Outlook: A better deal in London than Paris
Tuesday 06 January 1998
Meanwhile, on this side of the Channel, the Government launched its extended New Deal, which will subsidise employers who take on unemployed workers and cut welfare to individuals who refuse to take up a job opportunity. It would be hard to devise a contrast that illuminated more clearly the difference in national economic philosophy.
The irony is that the ups and downs of the business cycle will favour the French economy this year, helping to chip away at the 12.5 per cent jobless rate, while the slowdown in the UK will perhaps put a halt to the decline in unemployment even as the New Deal gets into full swing. Neither trend is attributable to the government packages. In each case these are just supply-side measures which will only show results in terms of the number of people in work over the course of several years.
But the best indicator of the supply-side success of the contrasting Anglo-Saxon and Gallic approaches will be corporate profitability and investment. The UK's New Deal will, if only in a small way, improve the quality and reduce the cost of available labour. The French package will do the opposite, squeezing corporate profit margins. It is easy to see why the British approach will ultimately create a great deal more jobs.
Mountain goats miraculously survive avalanche in the Alps
Skyfall's Ben Whishaw confirmed for Freddie Mercury film
The ten coldest places on Earth
Sir Ian McKellen hits back at Damian Lewis' 'fruity actor' claims
Kenyan politician Mike Sonko left red-faced after photoshopping himself next to Nelson Mandela
Housing double whammy: A whole generation ‘won’t be able to buy or rent a home’
'I'm experiencing austerity as well', says Princess Michael of Kent
- 1 Mountain goats' miraculous escape from avalanche captured in dramatic video footage
- 2 Gurdwaras-turned-food banks: Sikh temples are catering for rise in Britain’s hungry
- 3 Kenyan politician Mike Sonko left red-faced after photoshopping himself next to Nelson Mandela
- 4 Government delays EU immigration report because it is too positive
- 5 'I'm experiencing austerity as well', says Princess Michael of Kent
- < Previous
- Next >
iJobs Money & Business
£45000 - £70000 per annum + Bonus + Benefits: Harrington Starr: Technical Impl...
£65000 - £90000 per annum + Bonus + Benefits: Harrington Starr: Rogue Trading ...
£35000 - £45000 per annum + BONUS + BENEFITS: Harrington Starr: A leading, Cit...
£40000 - £50000 per annum + benefits + bonus: Harrington Starr: Data Analyst -...