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Post by MJB on Apr 26, 2023 22:24:54 GMT
Here's an interesting fact for you. Morrisons have had to give their staff a pay rise as it was under the minimum wage. Meanwhile the company made over £800 million profit in the last year. Someone care to explain how the staff pay increase is driving the price increases on food?
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Post by andy on Apr 27, 2023 6:34:13 GMT
I'm just glad the SNP are not in charge of the country's money.
That would be an understandable reaction, Andy..... but for the fact that those who actually ARE in charge of the country's money are (much) worse.  At least they know which pockets the money is in. |
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Post by peterba on Apr 27, 2023 7:24:00 GMT
That would be an understandable reaction, Andy..... but for the fact that those who actually ARE in charge of the country's money are (much) worse. At least they know which pockets the money is in.
Indeed..... it's in their pockets.
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Post by mick on Apr 27, 2023 7:35:53 GMT
I tried hard to make my first post apolitical because I believe that what I said is true under any shade of government - and I'm not confining that remark to the UK. IMHO all the railing aganst a particular political party or the rich/poor divide is a red herring.
If I'm right then 'inflation bustng pay claims, such as the doctor's 35%, are out of order and unaffordable. If a group gets a bigger slice of the cake then, unless the cake has got bigger, it has to be at the expense of a different group. My contention, and the contention of the original article, is that the cake can't keep growing indefinitely and when the cake shrinks, and shrink it will from time to time, we all need to accept that our slice will get smaller.
Kate: I think that many financial advisors set up a new retiree so that part of their income was based on interest from a lump sum. I think that the theory was that a lump sum was needed for life's expenses (house repairs, appliance replacement, car etc) and as one spent the lump sum and the interest from it diminished one was also getting older and the need for income reduced. Therefore many pensioners, me included, lost a significant part of our income when interest rates dropped. As you say we have no way of recovering our loss.
Mick
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Post by andytake2 on Apr 27, 2023 7:56:37 GMT
We're all poorer and need to accept it - except the poorest have become seriously worse off compared to everyone else.
As those with the lowest incomes spend a far greater percentage on food and energy, the gap between those who are relatively comfortable(for want of a better term) and those who have very little has widened hugely.
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Post by MJB on Apr 27, 2023 7:58:52 GMT
If I'm right then 'inflation bustng pay claims, such as the doctor's 35%, are out of order. Firstly 35% is the starting point for negotiation. Unfortunately the government is refusing to come to the table. Year on year junior doctor's wages have been increased at a rate below inflation, in effect a pay cut in real terms. 35% would just bring them back on par with inflation. Now I'm in agreement that we must accept that we shouldn't increase wages so people can afford top of the range cars, fancy holidays, the latest gadgets & gizmos, we're talking about people who are struggling to pay rent on modest homes, or a weekly grocery shop, or heating their homes. These are the basics in life and people in professional jobs are struggling, let alone those in minimum wage jobs. Supermarkets aren't willing to sacrifice their bottom line to lower prices, but they would rather staff accepted cuts, and suppliers take the hit on price decreases despite the fact that all the supermarkets in the UK post profits of 100s of million pounds. The cake isn't getting bigger, but the way it's sliced can change. |
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Post by zou on Apr 27, 2023 9:26:52 GMT
Wait until folk hear about who got 50% or higher pay increases, who posted record profits, and who awarded themselves millions in bonuses.
But until then, sure, blame inflation on the ones being squeezed, you absolute ghouls.
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Post by JohnY on Apr 27, 2023 11:40:54 GMT
Here's an interesting fact for you. Morrisons have had to give their staff a pay rise as it was under the minimum wage. Meanwhile the company made over £800 million profit in the last year. Someone care to explain how the staff pay increase is driving the price increases on food? Is that £800 million before or after paying interest on loans. The good British business was bought by a private equity firm in a highly leveraged takeover. Thanks to that Morrisons has large debts. I consider private equity companies to be parasites. |
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Post by willien on Apr 27, 2023 12:39:22 GMT
Here's an interesting fact for you. Morrisons have had to give their staff a pay rise as it was under the minimum wage. Meanwhile the company made over £800 million profit in the last year. Someone care to explain how the staff pay increase is driving the price increases on food? Is that £800 million before or after paying interest on loans. The good British business was bought by a private equity firm in a highly leveraged takeover. Thanks to that Morrisons has large debts. I consider private equity companies to be parasites. Vicious, mercyless, ruthless, heartless, soulless predators.
Edit. My apologies. I forgot "opportunistic". Edit 2 - and "ambush".
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Post by mick on Apr 27, 2023 15:29:21 GMT
My Mother used to say, "You can't see the wood for the trees".
I agree with many, possibly most, of the replies above but IMHO they are trees and I'm trying to talk about the wood.
If the wood (aka cake) remains the same size then it's up to the trees to protect the weakest of their number. Are the doctors among the weakest? I'd argue no they are not. Are the train drivers among the weakest - definitely not. Barristers? I don't think so.
If any one of those groups gets an inflation busting increase then it comes out of the pockets of others - nurses maybe. You and I certainly. I've already sacrificed more than 20% of my income (and I'm talking actual cash - not some inflation adjusted notional income) and it sounds as if Kate has too.
Mick
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Post by zou on Apr 27, 2023 19:02:29 GMT
My Mother used to say, "You can't see the wood for the trees". I agree with many, possibly most, of the replies above but IMHO they are trees and I'm trying to talk about the wood. If the wood (aka cake) remains the same size then it's up to the trees to protect the weakest of their number. Are the doctors among the weakest? I'd argue no they are not. Are the train drivers among the weakest - definitely not. Barristers? I don't think so. If any one of those groups gets an inflation busting increase then it comes out of the pockets of others - nurses maybe. You and I certainly. I've already sacrificed more than 20% of my income (and I'm talking actual cash - not some inflation adjusted notional income) and it sounds as if Kate has too. Mick Name one group of workers who have taken industrial action whose pay increase has IN REAL TERMS "busted" inflation. I'll wait. |
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Post by MJB on Apr 27, 2023 19:54:49 GMT
Name one group of workers who have taken industrial action whose pay increase has IN REAL TERMS "busted" inflation. I'll wait. Chief executives of national and international corporations... Oh wait! You said workers. There's a strong case for maintaining pay differentials. I was shocked when I looked at NHS pay bands and saw that my work colleague's wife who is a receptionist is on the same pay band as an experienced A&E charge nurse. |
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Post by willien on Apr 27, 2023 22:06:37 GMT
My Mother used to say, "You can't see the wood for the trees". I agree with many, possibly most, of the replies above but IMHO they are trees and I'm trying to talk about the wood. If the wood (aka cake) remains the same size then it's up to the trees to protect the weakest of their number. Are the doctors among the weakest? I'd argue no they are not. Are the train drivers among the weakest - definitely not. Barristers? I don't think so. If any one of those groups gets an inflation busting increase then it comes out of the pockets of others - nurses maybe. You and I certainly. I've already sacrificed more than 20% of my income (and I'm talking actual cash - not some inflation adjusted notional income) and it sounds as if Kate has too. Mick I have gone back and forth to your post which I am "quoting" and the thread one. Sorry I have no idea what you are trying to say. |
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Post by mick on Apr 28, 2023 6:37:49 GMT
My Mother used to say, "You can't see the wood for the trees". I agree with many, possibly most, of the replies above but IMHO they are trees and I'm trying to talk about the wood. If the wood (aka cake) remains the same size then it's up to the trees to protect the weakest of their number. Are the doctors among the weakest? I'd argue no they are not. Are the train drivers among the weakest - definitely not. Barristers? I don't think so. If any one of those groups gets an inflation busting increase then it comes out of the pockets of others - nurses maybe. You and I certainly. I've already sacrificed more than 20% of my income (and I'm talking actual cash - not some inflation adjusted notional income) and it sounds as if Kate has too. Mick Name one group of workers who have taken industrial action whose pay increase has IN REAL TERMS "busted" inflation. I'll wait. You will wait a long time. If you read what I actually said you will see that I didn't claim that any of the groups had actually received such a settlement (unless you will accept the barrister's 15%). I was suggesting that such a settlement would be unaffordable.
Mick
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Post by MJB on Apr 28, 2023 6:46:55 GMT
We need to stop talking about pay rises as a percentage and talk about the actual physical cash amount. One workplace with 650 workers has just received a £2500 payrise this year. I received an inflation busting 20% payrise that was 8x more when stated as a percentage, but in cash terms was just double that of their payrise.
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