UK pay falls at fastest rate on record as inflation hits
It&#x27;s bizarre that this can happen at the same time as widespread staff shortages are being reported in some sectors, but there we are. <a href="https:&#x2F;&#x2F;www.theweek.co.uk&#x2F;business&#x2F;economy&#x2F;956951&#x2F;labour-shortages-urgent-problem-economy" rel="nofollow">https:&#x2F;&#x2F;www.theweek.co.uk&#x2F;business&#x2F;economy&#x2F;956951&#x2F;labour-sho...</a><p>It seems to me that decades of industrial policy have been aimed at clamping down any means to demand nominal wage increases, especially through industrial action, so we are now stuck in a low-wage staff shortage situation; this would be a great time to invest capital in productivity increases, especially while interest rates are below inflation, but British management culture is too dysfunctional for even that. And the government are not going to do anything useful because they&#x27;re busy competing for the top job, egged on by a press who don&#x27;t care about industrial policy or wages.