George Osborne Has Lost £33Billion in Taxes Because of Wage Stagnation | Frances O’Grady – TUC General Secretary

This article by Frances O’Grady, TUC General Secretary, published in Huffington Post is an interesting read. Check it out!

via George Osborne Has Lost £33Billion in Taxes Because of Wage Stagnation | Frances O’Grady.

Despite being a lifelong conservative, for four years I have struggled with the policies of David Cameron’s government – most of all I have disagreed with George Osborne’s policies. But we are advised by experts, that the austerity that a future Tory government will take us back to the 1930s.

Another problem for me is that the Labour Party are not credible.

Let’s look at Frances O’Grady’s proposal:

We can’t cut our way to a strong economy any more than we can dig ourselves out of a hole. More austerity will keep us stuck in a downward spiral. It’s time for a new long-term plan based on fair pay settlements and investment in the skills, infrastructure and innovation that creates decent jobs with decent wages.

I have put in bold what I regard as flawed. If we take out what I regard as offending words, there’s an excellent plan:

We can’t cut our way to a strong economy any more than we can dig ourselves out of a hole. More austerity will keep us stuck in a downward spiral. It’s time for a new long-term plan based on  investment in the skills, infrastructure and innovation that creates decent jobs with decent wages.

My point is that we have to compete in world markets and should strive to be the best. From aspiring to be the best, the rewards of good pay will follow. Sadly, competitors will not permit us the pay the rewards in advance.

Thoughts?

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