More or Less How do you breed seventeen octillion rats?
Oct 2, 2024
Louise Murphy, a Senior Economist at the Resolution Foundation, dives into pressing economic topics. She discusses the surprising decline in working hours among UK GPs and its implications for healthcare. The conversation also highlights Wetherspoon's questionable tax contributions and the broader issues of economic inactivity in the UK post-pandemic. Additionally, the podcast takes a quirky turn, exploring how two rats can exponentially multiply to 17 octillion, showcasing the absurdity of statistical projections and the real-world factors at play.
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Declining GP Work Hours
- The average contracted GP work hours have decreased from 0.8 FTE in 2015 to 0.69 FTE in 2022.
- This drop is largely attributed to male GPs reducing their hours, alongside the existing trend of female GPs preferring part-time work.
Wetherspoon's Tax Claims
- Wetherspoon's claims to generate £1 in every £1000 of UK tax revenue.
- This includes not only taxes they pay, but also taxes collected from customers and employees (like VAT).
Economic Inactivity and Long-Term Sickness
- Economic inactivity among working-age people is at 22%, higher than the pre-pandemic low of 20%.
- Though historically not exceptionally high, this increase is concerning, driven by a rise in long-term sickness, particularly among young people.