The next Tory recession?

[El Cid]

As of Jul 2015, the avg. pay for a Staff Nurse is £12.33/hr

 

The average hourly pay for someone with a degree in 2010 was £16.10/hr

 

---------- Post added 01-09-2015 at 09:03 ----------

 

Where are you getting your information

 

The same place as you, I generally trust the ONS "After accounting for the different organisation sizes between the public and private sector, it is estimated that on average the pay of the public sector was between 3.3% and 4.3% lower than the private sector in April 2014."

[Eric Arthur]

That metric is nonsense to anyone but a statistician though.

 

Here's a better one.

 

"In April 2014, it is estimated that the average pay in the public sector and private sector was very similar. The estimate ranged between a 0.9% pay gap in favour of the public sector and a 0.1% pay gap in favour of the private sector, after accounting for the different jobs and personal characteristics of the workers."

 

Then when you add in pensions the public sector is much better paid.

[El Cid]

 

Then when you add in pensions the public sector is much better paid.

 

They also do not take into account overtime work, all those council vans that I see after 5pm and on a Sunday, NOT.

 

A friend of mine that works on the railways gets paid more for Sunday overtime than I do for a week.

Edited September 1, 2015 by El Cid

[unbeliever]

They also do not take into account overtime work, all those council vans that I see after 5pm and on a Sunday, NOT.

 

A friend of mine that works on the railways gets paid more for a Sunday than I do for a week.

 

Does your friend work for the state (network rail) or for one of the private rail franchise operators?

[El Cid]

Does your friend work for the state (network rail) or for one of the private rail franchise operators?

 

Northern Rail, a private company.

[unbeliever]

Northern Rail, a private company.

 

Have you compared his pension entitlements to yours?

Does he have qualifications and training that you don't?

 

Are you available/willing to work on Sundays?

[I1L2T3]

There was a phase of deregulation under Thatcher but not in the areas which caused the problems. The banks did very well in the '80s and '90s.

The banks got into trouble because of their low capital requirements. This was instituted by Labour. There's no getting away from this.

Light touch regulation is not a problem in of itself. Low capital requirements on the other hand leave banks incapable of absorbing reasonable losses from big market corrections. This has been corrected.

It would be nice if we had lots of small banks rather than a few big ones but it's too late now to prevent the mergers which caused this under Labour. Best to just be patient. New players will eventually enter the market and if Labour are still in opposition where they belong new mergers can be prevented.

 

 

---------- Post added 31-08-2015 at 07:33 ----------

 

The FTSE is up 400 points since this thread was started.

I'm afraid those who anticipated a "Tory recession" are going to be disappointed.

 

The Guardian seems to agree:

http://www.theguardian.com/business/2015/aug/27/ftse-100-stock-markets-china-us&cid=52778937999805&ei=OvTjVaiPPJKYUO_liIgK&usg=AFQjCNH6LbQgjz_Fa886gaH4QIWckcPa3A

 

As does the Independent:

http://www.independent.co.uk/news/business/sharewatch/market-report-surge-after-upbeat-us-gdp-data-helps-ftse-100-claw-back-most-of-black-monday-losses-10477781.html&cid=0&ei=OvTjVaiPPJKYUO_liIgK&usg=AFQjCNFw2BVGpX8kvKYDJX2WpxUT4uSoUw

 

Now that even the socialist papers agree that we're fine. Can we stop pretending that this is somehow proof that Osbourne is mishandling the economy please?

 

Down 189 points today. 3%.

 

You told us everything was fine.

[WiseOwl182]

Down 189 points today. 3%.

 

You told us everything was fine.

 

 

Come on, it's almost like you're willing on a recession and wishing misery on people to make a political point. Unfortunately for you, a swing of a few per cent either way is just a normal day. It'll even put by the end of the week.

[drummonds]

The Conservative have held public sector pay down so much, that it is now below what the private sector pays for similar sized companies. So who ever gets into power next, will need to increase it in order to catch up, again.

Its just a seesaw, between Conservative and Labour.

 

The teams at the bottom of the premier league pay their players more than the prime minister.

 

why should public sector be paid more than private sector? don't most public sector jobs have earlier retirement and rather less chance of being made redundant. all coupled with a rather lower productivity.

[I1L2T3]

Come on, it's almost like you're willing on a recession and wishing misery on people to make a political point. Unfortunately for you, a swing of a few per cent either way is just a normal day. It'll even put by the end of the week.

 

I don't want a recession. This was not a normal day. £48bn wiped off the FTSE in one day.

 

You got no idea what is coming.

 

---------- Post added 01-09-2015 at 21:04 ----------

 

That metric is nonsense to anyone but a statistician though.

 

Here's a better one.

 

"In April 2014, it is estimated that the average pay in the public sector and private sector was very similar. The estimate ranged between a 0.9% pay gap in favour of the public sector and a 0.1% pay gap in favour of the private sector, after accounting for the different jobs and personal characteristics of the workers."

 

Then when you add in pensions the public sector is much better paid.

 

A pension contribution is not pay. It's not salary. Preposterous.

 

This concept is just something that was dreamed up by a right wing think tank recently to engineer an argument that public sector pay is much higher than private sector pay.

 

Dog whistle politics but hey I guess it works

Edited September 1, 2015 by I1L2T3