The Rest Is Money cover image

The Rest Is Money

58. Is ‘sick note culture’ real? Why are living standards still stagnating? Will the UK always be a global economic power?

May 15, 2024
Former Chief Economist of the Bank of England, Andy Haldane, discusses the UK's workforce decline post-COVID, challenges of 'sick note culture' linked to poverty, stagnation of wages since 2008, low productivity in UK companies, and navigating economic and political challenges like Brexit and global governance.
28:17

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • Post-COVID health declines are hindering UK workforce participation, highlighting the need for healthcare support and training.
  • UK's productivity struggles stem from disparities in business performance, calling for improved access to finance and management skills for mid-tier companies.

Deep dives

Reasons for Sickness-Related Inactivity Post-COVID

Post-COVID, the UK has faced challenges in encouraging people back to work due to rising sickness-related inactivity. Notably, health deterioration, especially among the 18 to 24 age group, has contributed to a significant portion of the workforce being neither employed nor seeking employment. This situation underscores the need for improved healthcare support, training, and flexibility to assist individuals in rejoining the workforce.

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
App store bannerPlay store banner