Bloomberg UK Politics
A Working Solution : Diagnosing The UK's Productivity Problem
Nov 26, 2024
Ailbhe Rea, Bloomberg's associate editor, dives into Labour's 'Get Britain Working' white paper aimed at tackling economic inactivity in the UK. She discusses the challenges of reducing the £137 billion benefits bill, the impact of rising employer taxes, and the feasibility of achieving an 80% employment rate. Rea also contrasts the employment strategies of Labour and Conservative parties, reflecting on the political tensions and public impatience as the government faces scrutiny ahead of the holiday season.
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Quick takeaways
- The UK government's 'Get Britain Working' initiative aims to increase employment by targeting 2.8 million individuals currently out of the workforce due to long-term sickness.
- Concerns among employers regarding tax hikes and job creation may hinder the government's ambitious goal of raising the employment rate to 80%.
Deep dives
Government's Employment Initiative
The government aims to increase the employment rate from around 75% to 80% by introducing the 'Get Britain Working' initiative. This plan includes significant changes to employment support, targeting the 2.8 million individuals currently out of the workforce due to long-term sickness. The government emphasizes the need for new policies that will reduce the £137 billion benefits bill, such as removing welfare payments for those who refuse training or education. However, this approach may face criticism from both within the government and from businesses regarding the feasibility and ethical implications of these policies.
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