It is ridiculous to think that ordinary people earning more are bad for the economy. Economies should be constructed to improve the lives of the vast majority of people.
In essence you are correct but it’s the rate at which it is increasing. The higher the growth the greater the demand for goods and services and hence the prospect of higher inflation.
Prices rise and so we see pay increases.
We had a relatively stable economy until Brexit changed all that. I think Boris Johnson and his cronies, honestly believed that prices and costs would rise, but we’d all middle on, on the same salaries
Wages have been stagnant in the UK for more than 15 years. If we are going to grow the economy, people need money to spend. Madness that a tiny increase in real wages should be seen as a problem.
Productivity is stalling because people aren't willing to work their fingers to the bone for a salary that goes solely to bills. Efficiency rises when there's actually some kind of reward in the end
Also, productivity is directly related to investment (including health & public transport), a low wage economy is by definition less productive, when 2 blokes & a pressure washer is cheaper than investing in a machine that needs no worker, then any reference to 'low productivity' has to be a joke..
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We had a relatively stable economy until Brexit changed all that. I think Boris Johnson and his cronies, honestly believed that prices and costs would rise, but we’d all middle on, on the same salaries