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.
- 1 Howard Jacobson: Let's see the 'criticism' of Israel for what it really is
- 2 Instagram of US airport security chiefs: Lipstick knives and IED training kits among items seized
- 4 PornHub begs users to stop uploading video clips of Brazil getting beaten 7-1
Game of Thrones author George RR Martin says 'f*** you' to fans who fear he will die before finishing Westeros saga
Instagram of US airport security chiefs: Lipstick knives and IED training kits among items seized
Gingers face extinction due to climate change, scientists warn
Mick Jagger denies being World Cup curse and reason for Brazil’s embarrassing defeat
Do you know this man? Amnesia sufferer found in park pleads for help in identifying who he is
Sustained immigration has not harmed Britons' employment, say government advisers
Australia facing international condemnation after turning around Sri Lankans at sea
7/7 memorial defaced on anniversary of 2005 attacks with ‘Blair lied thousands died’ graffiti
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
There’s a nasty smell in the political air – and it’s coming from the Tories
Vanessa Feltz criticises 'vile' reaction to Rolf Harris allegations
iJobs Money & Business
£60000 - £75000 per annum: Harrington Starr: Business Analyst Consultant (Fina...
£60000 per annum: Harrington Starr: A leading provider in investment managemen...
£600 - £700 per day: Harrington Starr: AVS, JVS Openlink Endur Developer JVS, ...
£30000 per annum: Harrington Starr: A global leader in trading platforms and e...