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Has the welfare system distorted our economy?

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    #41
    Originally posted by xoggoth View Post
    One link from that link:



    https://www.project-syndicate.org/co...turner-2016-10

    This recent news is therefore rather worrying:


    Read more at Fewer studying science, technology subjects - Education | The Star Online

    Fewer studying science, technology subjects - Education | The Star Online

    A TV news item today, can't seem to find it online, says there is a big drop in students studying IT.

    I think you make some fair points and I've seen those types of argument before. As per my earlier post, I was focusing more on the large number of SME companies who tend to be the most inefficient. The UK has a small number of world leading companies like GSK in sectors such as pharmaceutical and aerospace. But many of our biggest companies have wasted billions in one way or another:

    £40 billion - BP, total costs of Deepwater Horizon oil spill
    £28 billion - Vodafone, write down of Mannesman acquisition leading to a then largest ever annual loss by a European company
    £24 billion - RBS during the banking crisis

    Historically we have been a low education, low skill, low productivity, low wage economy compared to our peers and I don't see that changing for the foreseeable future.

    Comment


      #42
      I don't see that changing for the foreseeable future
      Me neither unfortunately.
      bloggoth

      If everything isn't black and white, I say, 'Why the hell not?'
      John Wayne (My guru, not to be confused with my beloved prophet Jeremy Clarkson)

      Comment


        #43
        Originally posted by edison View Post
        I think you make some fair points and I've seen those types of argument before. As per my earlier post, I was focusing more on the large number of SME companies who tend to be the most inefficient. The UK has a small number of world leading companies like GSK in sectors such as pharmaceutical and aerospace. But many of our biggest companies have wasted billions in one way or another:

        £40 billion - BP, total costs of Deepwater Horizon oil spill
        £28 billion - Vodafone, write down of Mannesman acquisition leading to a then largest ever annual loss by a European company
        £24 billion - RBS during the banking crisis

        Historically we have been a low education, low skill, low productivity, low wage economy compared to our peers and I don't see that changing for the foreseeable future.
        What if we could pick and choose who came here? Might that help?

        Comment


          #44
          Originally posted by SueEllen View Post
          In plain English it means you employ the person who lives down the road from the company rather than the person who lives in a foreign country.

          Now "down the road" could literally mean down the road or it could mean in the same city or it could mean in the same country. I short you employ the person nearest the company even if you have to train them up.
          So mobility of population goes out of the window then, people will have to move to area where jobs are and then relocate to get another job?

          If those were the current rules then I'd have most of jobs created in another country.

          Comment


            #45
            Originally posted by The_Equalizer View Post
            What if we could pick and choose who came here? Might that help?
            We already can.

            Have a look at the statistics of who emigrates here and is more likely to be unemployed - oddly it doesn't tend to be young people from the EU....
            "You’re just a bad memory who doesn’t know when to go away" JR

            Comment


              #46
              Originally posted by SueEllen View Post
              We already can.

              Have a look at the statistics of who emigrates here and is more likely to be unemployed - oddly it doesn't tend to be young people from the EU....
              People can enter the UK with or without work/skills. Why not just ensure they have employment and skills?

              Comment


                #47
                Originally posted by The_Equalizer View Post
                People can enter the UK with or without work/skills. Why not just ensure they have employment and skills?
                Picking crops or cutting up chickens aren't regarded as skilled jobs - but we need someone to do them.
                "You’re just a bad memory who doesn’t know when to go away" JR

                Comment


                  #48
                  Originally posted by SueEllen View Post
                  Picking crops or cutting up chickens aren't regarded as skilled jobs - but we need someone to do them.
                  Agreed. I would class that as employment.

                  Comment


                    #49
                    Originally posted by The_Equalizer View Post
                    Agreed. I would class that as employment.
                    You said employment and skills, not employment or skills. Anyway thanks to the communist/socialist regimes most young EU immigrants have things that count as skills to immigration officials.
                    "You’re just a bad memory who doesn’t know when to go away" JR

                    Comment


                      #50
                      I don't know why people complain about EU immigrants, everyone I know is pretty hard working gr8 at their jobs whether that's computing or plumbing. The staff in UK restaurants and in hotels in London are brilliant.

                      When the EU migrants (a term which makes them sound like undesirable vermin) go home I think they're going to be missed.
                      I'm alright Jack

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