RPI figures out today were the worst in 15 fifteen years, this figure is the basis for public sector wage rise negotiations. The unions will be exacting a high price for their financial support for Gordon’s general election campaign. Unemployment is up, interest rates are up. Remember the New Deal for for the Unemployed Youth? Gordon said this would be his priority, because it was a “human tragedy”, “sickening” and “an economic disaster”. Billions spent since 1997, it is higher now than it was when the Tories left office, in London 42.9% of 16 and 17 year olds are unemployed. No minimum wages for them. Gordon left in a hurry missing his party. Wonder if the Treasury had advance knowledge of the figures released?
Source : National Statistics Office. India logo nicked from Benedict Brogan’s blog.