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Uk Is Not Doing Well In Globalisation Trend - T U C

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Globalisation 'bad for Brits'

Workers vulnerable as UK firms fail to invest in training, TUC claims

Alexandra Wynne
Issue date: 29 August 2006
Source: PM Online
Employees in the UK are more at risk from the negative effects of globalisation than their European counterparts, new research claims.
Britain's vulnerability stems from the fact that it buys more on the global market than it sells and is home to multinational organisations that can easily relocate overseas, according to the TUC report Globalisation and the Comprehensive Spending Review. It claims the problem is exacerbated because firms fail to invest in training and pay low wages to keep labour costs down..../
Too many British workers are losing their jobs when companies move abroad or fail to compete. Cheap DVD players and clothes are scant compensation if you are being downgraded to poor-quality, insecure, low-paid work."

It seems that the TUC don't believe in Gordon's Miracle Economy. Gordon may ask them at the conference: isn't HPI and MEW enough?

Bottom line seems to be that globalisation is good IF you can compete. But with the highest house prices in the world coupled with among the lowest real wages the dream of perpetual HPI-MEW based on borrowing rather than actual work and production is evaporating.

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Who needs trainging when you can employ cheap slav(e)s?

The TUC really don't get it do they, they thought that they'd magically get loads more members by hanging on the coat tails of labour's policy in supporting unrestricted migrant competition. UK companies have a long history of being poor at training and investing, given the soft option of throwing cheap labour at a problem they will choose that every time rather than investing in human/industrial capital.

When existing employees get displaced they will find very little chance of re-recruiting them from "the poor-quality, insecure, low-paid work".

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  • 335 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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