I need to be clear, I don’t want to write about our Prime Minister anymore. It makes me mad and angry. I want to be sane and grown-up, not feel like a furious child, stamping my foot and raging in this column because something incomprehensible is going on.
Instead, I’d rather talk about the crisis in the labour market and why so many business owners are facing hurdles that few in government are discussing. Namely, that they can’t hire people to meet demand. And that’s a problem for productivity. They are also having to engage in a price war with competing employers to fill jobs. And then they must pass those costs to their customers and so the vicious circle goes on. Raising productivity has to be at the core of our recovery, or we will continue to slide towards stagflation.
