Over-60s are told: go back to university and retrain – Telegraph

A recruitment agency shop window near Holborn,...

A recruitment agency shop window near Holborn, London (Photo credit: Wikipedia)

United Kingdom

United Kingdom (Photo credit: stumayhew)

This is an interesting article. Check it out!

Over-60s are told: go back to university and retrain – Telegraph.

Personally, I do not agree with the proposed Government policy, described in the article and feel that it drastically simplifies a complex problem. Some of the elements include:

1. UK workers do not work as hard and are not as flexible as other workers, especially in countries like China

2. Employment agencies have too much power in the UK market place and have totally commoditized skills & competencies

3. The policy does not focus on the most acute economic needs, namely increasing exports, where vast increase in language skills are required, right throughout the workforce

4. There are vast numbers of over-qualified people already on the bench, look at the interim management industry for example (see my recent blog entitled “Death of the Interim Management Industry?”  Part 1 & Part 2)

5. Tax rates are too high and act as disincentive. Perhaps, we need a “professional tax” like France has had for many years, which makes suitable training & re-skilling tax deductible

6. There is too much red tape in the UK, much of it emanating from the EU that leads to inefficiency and waste

7. The UK needs an industry policy to generate acceptable long-term economic growth and and effective strategy to deal with the economic, social and political problems of a mature economy

Two women walking outside an employment agency.

Two women walking outside an employment agency. (Photo credit: Wikipedia)

What do think? Do you agree or disagree? All views are welcome

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Austerity Europe – NYTimes.com

United Kingdom: stamp

United Kingdom: stamp (Photo credit: Sem Paradeiro)

This is an interesting article from Paul Krugman, the Nobel economist in his NYT blog.

via Austerity Europe – NYTimes.com.

I wonder where the UK would fit on the matrix, especially given that the triple AAA have now been lost?

Any thoughts on the graph or the loss of AAA for the UK?

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