Martin from @ProspectUnion research team with news+data from/for our members in science, engineering, tech, conservation & skilled professions across UK economy
United Kingdom
Joined May 2017
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Prospect Research & Economics retweeted
Depressing for 3 reasons.
- Public sector investment is low in UK;
- It is due to be cut sharply (whoever wins the election);
- levels are completely unstable, up and down, making planning hard, and one reason why infrastructure projects more expensive in UK than elsewhere.
Prospect Research & Economics retweeted
We need better jobs, with flexibility for those who need it, action on stress and discrimination, and strong worker voice
We need to protect and invest in vital public services that support businesses and strengthen our economy as well as improving everyone’s quality of life
Prospect Research & Economics retweeted
Improving our prospects means keeping people in work and improving their productivity. And that will require a proper industrial strategy:
We need to address historically low levels of business investment in R&D, infrastructure, and training
Prospect Research & Economics retweeted
The two key determinants of growth are employment levels and worker productivity.
Worker productivity has been stagnating since the financial crisis, and the number of people in work has not returned to pre-Covid trends.
ALT Graph of key growth drivers
Prospect Research & Economics retweeted
Behind these challenges lie years of low economic growth, with stagnating wages and slow job creation.
This has led to low tax revenues to spend on public services.
ALT Graph of UK GDP per head
Prospect Research & Economics retweeted
The public agrees.
Just 16% of voters – and only 17% of Conservative voters – support tax cuts if it means cutting public services.
ALT Chart showing public opinion on tax and public spending
Prospect Research & Economics retweeted
Given the strains in the NHS, social care, schools, defence, prisons and numerous other services, these plans are deeply irresponsible.
The government is putting off dealing with problems that are doing increasing damage to our economy and society.
ALT News headlines highlighting the current strain on our public services
Prospect Research & Economics retweeted
🧵 As we approach Wednesday’s Budget, much of the debate is about tax cuts.
But the real story is that the government has planned huge cuts to public spending to kick in after the election.
ALT Graph showing non-NHS departmental current budgets
Prospect Research & Economics retweeted
NEW: We have written to the Environment Secretary following Capita's announcement that it plans to sell it's 75% stake in Fera Science Ltd.
This causes uncertainty for our members which is compounded by Capita's ongoing attempt to remove trade union recognition at Fera.
ALT Prospect's letter to the environment secretary, page 1
ALT Prospect's letter to the environment secretary, page 2
Prospect Research & Economics retweeted
"The decline in worker bargaining power, the result of decades of de-unionisation along with increased market power of employers, costs the average worker around £100 a week in lost wages."
@mikeclancy1 of @ProspectUnion on how unions can drive growth:
labourlist.org/2023/12/labou…
Prospect Research & Economics retweeted
Central story of the #Autumnstatement is that a (nominal) £21bn/yr tax cut has been funded from (real) £19bn/yr cut in public services
This isn't sustainable and whoever wins the election will have to raise those taxes again - and then some - just to keep the wheels on
Prospect Research & Economics retweeted
The key fact underlying the OBR's upgrade to tax receipts: nominal GDP MUCH higher.
Next key fact: departmental spending is barely higher
In effect, the govt is financially benefiting from a real terms cut to departmental spending, and is using £20bn for tax cuts. That's it.
Prospect Research & Economics retweeted
🚨 Today's Autumn Statement was a wasted opportunity to set out a path to a fairer economy.
No amount of rhetoric will hide the fact the UK is failing to deliver the energy infrastructure and innovation we need to meet our net zero targets and create new jobs.
Prospect Research & Economics retweeted
Spending headline: sticking to tight spending plans post-election. This will mean totally implausible cuts to unprotected departments and huge cuts to public investment (held flat in cash terms in face of much higher inflation)
Prospect Research & Economics retweeted
Inflation: big forecast news - OBR have revised UP their inflation forecast a lot. This will mean even stronger increase in tax revenues (and deeper public investment cuts)
Prospect Research & Economics retweeted
"It's great news that workers might be able to direct their pension contributions to more expensive providers" says a more expensive pension provider @pensionbee
Prospect Research & Economics retweeted
Fantastic @sciencecampaign annual lecture with Government Chief Scientific Adviser, Prof Dame Angela McLean.
Topics included using science to improve national resilience, building a more scientific civil service and delivering the science & tech framework. @drsarahmain
Prospect Research & Economics retweeted
Speaking at our event, Mary Starks of @FlintGlobal highlights the centrality of moderning our power and water infrastructure for our net zero transition. Regulators will play a key role in driving these changes (and will inevitably be unpopular for doing it!)
Prospect Research & Economics retweeted
Interesting piece on AI regulation and workers' rights.
Our research suggests that bottom-up governance of AI through workplace employee representation can be implemented without retarding the pace of technology adoption.
@FabLand83 @BellocFilippo
Related papers 👇
1/
IIPP’s @francesca_bria writes in the Guardian about the urgency to protect workers’ rights in the age of AI. She proposes regulation that shapes the digital transformation through increased data accessibility & democratic control of algorithms.➡️Read here: theguardian.com/commentisfre…
