The BBC recently published the below strike advent calendar.
That is alot of different strikes across the board. So Why are they doing it?
The Royal Mail:
The union has said the strikes are partly about the "Uberisation" of the postal service, including "widespread changes... introducing Uber-style owner-drivers, mail centre closures and changes to Sunday working". Many workers are seeking wage rises as the cost of living soars. - Source, BBC
Nurses:
“The nurse’s union, the Royal College of Nursing, has asked for a 19 percent raise, noting that small increases in the past have made it hard to attract and retain workers. Nurses are leaving the profession at high rates, citing low pay and staff shortages that force them to work long hours, according to union representatives”. Source, The New York Times
Railway:
“Rail workers are calling for better conditions and pay rises to match the pace of inflation, with the cost of living rising at its fastest rate for more than 40 years”. Source, BBC
Bus Workers:
“Pay is the main cause for disgruntlement among workers in the face of soaring inflation and a cost of living crisis in Britain”. Source, The Mirror
Highway Workers:
“With the serious cost-of-living crisis they deserve to be paid properly for the important work they do, keeping our roads running safe and free. The government is in the driving seat here – it’s in a position to stop these strikes by putting money on the table” - PCS general secretary Mark Serwotka
Baggage Handlers:
Cargo workers were offered a 9.5% pay increase backdated to May 2022 and a further 1% from January 2034, this was not offered to Baggage Handlers. Source, LondonWorld
Border Force
Members are demanding a 10 per cent pay rise, citing eye-watering inflation of 10.6 per cent. Souce, Euronews
Driving Examiners
“The strike action is part of national industrial action by the PCS union over pay, pensions, jobs and redundancy terms”. Source, Gov.uk
Ambulance Drivers:
Workers across the ambulance services and some NHS Trusts have voted to strike over the Government’s imposed 4 per cent pay award - another massive real terms pay cut.
It’s all to do with the Bank of England
Inflation and the reckless money printing we have seen in recent years that started even before the first Covid lockdown are to blame. By printing money for the government to spend the Bank of England has reduced the value of the British pound for everyone. Everyone who gets paid in pounds has been squeezed as a result of this action while the wealthy owners of hard assets (property, gold, shares etc) have largely been protected from this dilution.
The British government has been printing money for decades to pay for the various services it offers, relying on growth of the economy to bail them out. This is why growth is so important to the system. Without growth the party ends and all these benefits we have been offered and taken for granted will no longer be affordable.
Printing money is an easy way for the government to raise money to spend because it does not have to be taken via taxation. Instead of taking our money from our pay cheque they instead print new money out of thin air and dilute the value of the money in our pocket without us even noticing. This is THEFT / hidden taxation
This cannot go on forever and if by fate or fortune we survive this particular catastrophe, another one will inevitably roll round and it might be that one that finally kills the system.
Technology is deflationary and has been replacing or destroying jobs since the beginning of time and now (in the form of Bitcoin) it has finally come to the financial system. We are still in the early days of this transition and be in no doubt this will get messy but everyday more and more people are buying bitcoin and opting out of this mess of a system that punishes savers and rewards reckless takers of debt. The existing system is fighting back and will continue to do so because it is fighting for its survival.
As always this is Not financial advice just our opinions on whats coming.
Until next time
The Wealth Gap Team