Business Maverick: UK energy bill support contributing to labour shortages, MPs say

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 84%

Business News News

Business Business Latest News,Business Business Headlines

The UK government’s cost-of-living support for households struggling with sky-high energy bills may be contributing to labour shortages by discouraging people from seeking work, a panel of lawmakers said.

By linking the support to means-tested benefits, households could lose the entire £900 payment scheduled for next year if they increase their hours, take on a job or agree to a pay rise that pushes them just £1 over the threshold.

Since the start of the pandemic in March 2020, there has been a jump in benefit claimants with work requirements, meaning welfare recipients must look for a job, and a steep rise in inactivity as people dropped out of work. “Alongside the support already provided this year, the Chancellor has told us that further cost of living assistance will be available next winter to recipients of means-tested benefits. This runs the risk of creating perverse cliff-edges and eroding work incentives.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: World Debt-GDP Ratio Plummets But Remains Above Pre-Covid LevelDebt as a share of gross domestic product plunged by the most in seven decades in 2021, but policymakers still face challenges because borrowing remains above pre-Covid-19 levels, the International Monetary Fund said.
Source: dailymaverick - 🏆 3. / 84 Read more »

BUSINESS MAVERICK: Cartoon Tuesday with RicoDefend Truth
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Uber conducting probe after vendor hit with cyberattackUber Technologies said it’s investigating the hack of a third-party vendor that reportedly resulted in the leak of data from the ride-hailing company, including employee email addresses.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Twitter blue service is back, including ‘verified’ badgesTwitter resumed selling its Twitter Blue premium offering, which gives users a blue verification badge by their names, following a weeks-long pause because some subscribers were using the paid service to impersonate well-known accounts.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Billionaire Scaffolding ‘King’ Guilty of Bribing Rugby BossA French billionaire known as the “king of scaffolding” was found guilty of corruption in connection with his construction company’s sponsorship deal with the French national rugby team.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Stocks Trim CPI-Fueled Gains With Fed Set to Hike: Markets WrapUS stocks trimmed a rally sparked by an unexpectedly strong slowdown in price growth last month, as attention turned to whether the Federal Reserve will alter its aggressive approach to battling inflation.
Source: dailymaverick - 🏆 3. / 84 Read more »