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Wednesday, November 30, 2022

Britain’s minimum wage rises…and with it unemployment

Britain's minimum wage rises...and with it unemployment

If the UK raises the minimum wage, unemployment and inflation will rise as well. that’s how he indicates it rafael pampillon This Friday in the Capital interview.

“All our planning is very careful to make sure we are not making the situation worse”, With this phrase, the British Finance Minister, Jeremy Hunt, warns of the danger that many governments are testing by speeding up their economic plans.

with the help of Rafael Pampilón, economist and professor of applied economics, We analyze the economic context in which we enter. in the next podcastyou can hear full capital interview of Luis Vicente Munoz In ‘Capital, the Stock Market and Life’.

interview with rafael pampillon

With the help of an economist and professor of applied economics, we analyze the economic context in which we enter.

“The most important thing right now is to bring down inflation”

The United Kingdom has to focus on reducing 11.1% inflation, the earliest we’ve seen this week, according to our capital guest. “It’s going to bring with it less growth in the economy. They’re already at a standstill.”

This “difficult” situation can be resolved if the monetary policy and fiscal policy adopted by the new British government are successful. “It is necessary to further reduce the public deficit, spend more and collect more to increase income.”

The pressure of the markets mainly falls on governments Because, according to Pampilon, “They’re not doing their homework”, They believe that they have left central banks alone to reduce inflation and are not making restrictive fiscal policies.

This condition can cause a Scenario of very high interest rates and public deficit, “It makes public and private debt a Leonine interest.”

“Spain is not doing well”

Raphael Pampilon points out that the central government has to manage state expenditure better. “It should set an example for autonomous communities and municipalities with greater restrictions on spending”, We cannot ignore, he concluded, that it is necessary to reduce a public deficit that is expansionary and “generates inflation.”

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