Central banks should stop printing money and encouraging households to borrow more, according to the Bank of International Settlements. It argues the best way to help the economy is for governments to push through major reforms, slash red tape and free workers and businesses to move between sectors to improve productivity
Free bus passes and TV licences plus winter fuel payments could be scrapped if the Tories win the next election, George Osborne has revealed. Ahead of the 2015 election all three main parties are now publically considering reducing pensioner benefits. According to statistics from the TUC, wage freezes and benefit cuts also mean that around 120,000 families with a parent working in the public sector will fall into poverty by 2015. Further cuts are expected to be followed by announcements of government spending on infrastructure projects spanning road, rail and internet in this week’s spending review.
Just two households have installed energy-saving measures in the first six months of the government’s £3bn Green Deal. It is thought that only 200 more homes have secured Green Deal loans and are waiting for measures to be installed. British Gas says it has assessed 11,000 homes but only one has received a loan because of computer errors at the Department of Energy and Climate Change.
A survey by Adzuna has shown the average wage for jobs advertised online has fallen by £1,504 over the last year to May. Meanwhile Labour has argued that older workers who lose their jobs should get higher unemployment benefits than their younger counterparts in recognition of their longer work history, to save them from the ‘silver scrapheap’ of long-term unemployment.