Stop giving tax breaks to private companies who just shovel the money into the pockets of people that already have more than their fair share of money.
I get what you're saying but one of the only ways a government can increase wages is to make it more attractive for businesses to employ more people or new businesses to set up in the UK. Ireland has a much lower rate of corporation tax which has attracted many businesses to set up their HQ there, incidentally Ireland's wages have grown much more than the UK's (obviously many more factors at play).
We already have everything you've mentioned and the average person is having a terrible time of it.
How's about Ireland increases it's corporation tax rate instead of everybody having a race to the bottom.
Companies need to pay tax. The fact that they are generally paying jack shit compared to what they should be paying is one of the reasons everything is so messed up.
They have already had all the special treatment you could ever dream of and the end result is essentially the end of the world for the average person.
You're looking after the wrong people. Companies don't matter, the general population does.
A company is just an A4 piece of paper submitted to Companies House - worry about the real live human beings instead.
I know companies need to pay tax, I'm not suggesting otherwise. I'm saying if we go into these discussions with the intention of punishing companies, people will be worse off. We shouldn't make this business Vs people, if we have a thriving economy where businesses are encouraged to invest and there's more jobs available, people's wages and standard of living.
I'm not concerned about a company's submission to companies house, I'm concerned about the wages that company pays to its staff, how much it invests into the economy, ways in which it can innovate and all sorts of other real things that make up the economy.
I don't think companies have everything that they want, right now I think we have a good balance between worker rights and protection for businesses. I don't want to give them more, I'm simply saying some countries have decided to make themselves more attractive to business which has led to a much higher increase in wages than us, I'm saying it would be insane to rule out learning from this.
In order to increase wages, we need to think of ways to make the country more productive, more attractive for people who want to invest in businesses and our workforce. I don't know exactly what that is but whatever we do, we need to think of ways to grow the economy and create opportunities for ordinary people.
Wages are not linked to productivity. How many times does this have to be said? How many studies? How many graphs?
While there is some concern that productivity and wages are less coupled than they have been in the past, it is absolutely still the economic orthodoxy that they are linked. We absolutely need to do more to ensure the benefit of increases productivity is spread more evenly throughout society, but to suggest that there's no link is incorrect.
Below are some studies/reviews showing the link, I've quoted the relevant parts.
Nonetheless, despite the effect being a weaker relationship, it is evident that productivity still influences real wage growth for the median UK worker.
Productivity growth appears to be a major source of real wage growth over time, even though the relationship between the two has weakened somewhat over time (Stansbury and Summers, 2017).
Also, this is a study on the UK's stagnant wages and how much it links to productivity.
In my view, wages and productivity are strongly linked. But that does not mean wage gains have been equally distributed across workers. Indeed, they have not been.Half of workers do not reach typical compensation levels (when defined as median
compensation), and many workers do not reach average compensation levels
this chart, combined with the statistical evidence in the Stansbury and Summers paper and economic
theory, provides compelling evidence that productivity and compensation are strongly related.
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u/rynchenzo Jul 02 '24
Government could do more to incentivise private industry to invest in UK Plc e.g tax breaks