Business leaders
have accused the British government of putting the blame on them for the supply
chain and staffing crisis in the UK. They want the government to allow more
immigration to plug the one million job recruitment gap.
But in his speech to
the Conservative Party, Boris Johnson said a high-wage, high-skilled economy
was being created in the wake of Brexit and the pandemic and that the country cannot
keep relying on immigration.
In response,
Federation of Small Businesses (FSB) national chair Mike Cherry said that the
prime minister's vision did not "match the current lived realities of
small businesses and sole traders".
Earlier this week,
Lord Wolfson, the boss of the retailer Next and a Conversative Peer, said that overseas
workers were the only way to solver labour shortages.
Current UK staff
shortages include:
·
Lorry drivers
·
Care workers
·
Hospitality staff
·
Agricultural and food processing workers
The government,
which has fast-tracked 10,000 visas for European drivers and agricultural workers,
wants an end to low skilled immigration following Brexit and the end of EU free
movement of labour in the UK. The UK has also granted around 5.4 million EU
citizens the right to stay in the country.
Boris Johnson and
other ministers have called on businesses to employ or train British workers,
which owners say is easier said than done.
There are over a
million job vacancies currently advertised in the UK and British people have
traditionally shunned lower paid jobs in care and agriculture, two sectors
which have come to depend on migrant workers.
In a private
meeting, a government minister commented that with over a million people
unemployed and five million on benefits - like universal credit - it makes no
sense to keep importing low-skilled staff from overseas while taxpayers pay for
people to stay at home.
Matching job vacancies
with unemployed people is a challenge. Employers want the right skills and
experience as well as staff in the right location to fill job vacancies.
As a former
employer, I found it extremely difficult to recruit people from the local Job Centre,
which helps unemployed people find work. Candidates seemed unmotivated to take
jobs and frequently failed to show up for an interview. Most were stuck in the
so-called ‘benefit trap’ where they were financially better off on benefits
than they would be taking a job.
Staff shortages are
causing wages to rise sharply, with HGV drivers being offered up to £70,000 per
annum and farm worker salaries soaring.
The higher wages, as
well as rising fuel costs will have to be passed on to consumers leading to
fears of a return to stagflation - high inflation combined with low growth.
Inflation has hit a 13-year
peak and could reach 6% according to markets. Germany and America are also experiencing
rising prices as oil and natural gas costs increase.
Reckless money
printing on an industrial scale has always led to inflation from pre-war Germany
to modern day Venezuela and Zimbabwe.
Higher inflation is
good news for investors holding assets such as property and stocks which have
reach record levels.
Warning bells for
Chinese property bubble
Investors are still
piling into high priced stocks and properties like the party’s never going to
end! Remind you of anything?
This week, another
Chinese property company, appropriately named Fantasia Holdings, defaulted on
interest payments following the Evergrande debt crisis. Could this be the tip
of the iceberg and the next property and debt bubble?
If China goes down,
it will take the rest of the world with it!
If you not worried
because you don’t invest in stocks and shares or property, look at your pension
fund.
There has never
been a better time to stay informed and educate yourself on financial matters.
The KEY to
building and KEEPING wealth is financial education.
Millionaires and millionaire
habits have been studied and documented at academic levels for the last hundred
years. Bestselling books, like The Science of Getting Rich and Thinks and Grow
Rich, were written almost a century ago. I have also published my own book on
how people get wealthy and how some lose it all - Yes Money Can Buy
You Happiness.
We know exactly what the
millionaire and billionaire habits and traits are, as success leaves tracks.
All you need to do is follow their tracks to become
wealthy and financially free!
If you would like to learn more about investing and managing
your money, become a professional property investor, or would like to be financially free without working any harder, watch
this free on demand training.
I
will give a special free gift which can help you to immediately transform your
finances when you attend the online training.
Click
on this link to watch the free training now https://bit.ly/3wLWqx2
Book now as spaces fill up fast...
#evergrande
#chinacrisis #realestatebubble #property #stockmarketcrash #inflation
#financialeducation #freetraining #evergrande #chinapropertybubble #pensions #immigration
#UKvisa #drivershortage
