Web links for 30th November 2011
An excellent post by Alastair Hatchett of Incomes Data Services – he points out that the public sector pay cap is much tougher than was expected.
On regional pay, Alastair notes that large companies with multiple sites tend to have national pay rates, supplemented by a London and South Eastern rate. In the private sector, pay is more likely to be linked to skills level than geography.
Ben Chu points out that the OBR says it expected growth to be much higher than it has been because of high inflation: "High prices reduced real incomes and dissuaded people from shopping. And businesses did not invest, according to the OBR, because the public weren’t spending."
"Is this convincing? Up to a point. High inflation is unlikely to have helped the economy. Yet the OBR doesn’t even consider the possibility that the Chancellor’s pledges of draconian austerity last year might have helped to undermine consumer confidence."