The UK Lorry Trade as a parable for the economy.

My friend shared this story today. For anyone that has 3 mins spare, I thoroughly recommend fully reading the first half and skimming the rest.

Key observations:

  1. In a free market, increasing demand and/or decreasing supply causes price increase. The rate of increase tells us how “elastic” the goods or services are. There is no scope for negative elasticity. Thus, ever reducing wages suggests that HGV driving is not a free market. There is little to set Lorry driving apart from ALL other work. Proposal: the labour market in the UK is not a free market
  2. Agencies mostly operate on the model that desperate people will pay whether is asked for something they need. This is not a moral standpoint.
  3. There is no mandate in governmentto understand the country’s labour needs and invest to meet those needs as they arise (training, career progression schemes, offering sabbaticals to specialist staff). A FTSE 100 company lacking this type of strategy… would not remain FTSE100 for long.
  4. I really don’t want to live in the UK any more.

Home Design Resourses

I had a subscription to Self Build Magazine for a year.
The website has lots of resources for people self-building (of course – the clue is in the name), but a lot of the elements can be used for smaller projects – for example, kitchen design in the Beginners Guides. You need a login but I think it’s free to sign up & everything.

“Income security is the overlooked piece of the labour market puzzle”

Circa 14% of England and Wales’ working population is in insecure work, according to Citizens’ Advice (summarised HERE).

This means four and a half million people (so a likely minimum of two million households) who cannot:

– get a mortgage easily

– sign up for lock-in contracts eg for utilities to benefit from cost savings, without risking the need for a payday loan or similar

– for many, but not all: commit to attend regular events or sessions for learning, care of family or friends, community activities, etc., unconditionally, as if work is offered, they’ll be in a position of being forced to accept it (for economic reasons)

I don’t dispute the valuable place that flexible labour plays in the UK’s economy. But nobody can deny that the legal framework for such work does not keep the employee safe from bankruptcy.

Variance Analysis: Know the story, give them the précis

Kaplan have a wealth of online materials that I find really useful for cribbing up on the management half of management accounting  (Deloitte do a newsletter about developments in pertinent reporting standards for the UK, so that’s my main tool on the accounting half).

Continue reading “Variance Analysis: Know the story, give them the précis”