Larry Elliott has a surprisingly neat view of labour demand and supply, and of British capitalism’s ability and willingness to respond to the “real incentive to invest more in new kit” in order to overcome labour shortages and raise productivity (If you want a benefit of Brexit, here it is: British employers must now innovate again, 9 February).
He is, of course, right that labour shortages now are not solely the result of Brexit. Covid, chronic underinvestment in training, the self-harm of “austerity” and a decade of wage stagnation all play a part.
