PennyStockPayCheck.com Rss

Featured Posts

Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

Read more

Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

Read more

Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

Read more

Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

Read more

UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

Read more

Anna’s charity was bid candy for the Work Programme. Now it’s bankrupt | Polly Toynbee

Category : Business

Big companies use small charities to win prime contracts from Duncan Smith’s programme. But where’s the proof it works?

Good unemployment figures? Less bad than feared in this longest of recessions, but how good? Of the 65,000 drop in the total, 61,000 were in London, and the Office of National Statistics suggests these are due to 100,000 temporary jobs at the Olympics as bar staff, cleaners and security guards. Meanwhile, the trend for the long-term unemployed trudges inexorably upwards, now to 441,000. Worse is the continuing rise in the young without work, four times higher in a year. The damage done to them over the whole of their rest of their lives is well-documented from the lost generation of the early 1980s who never recovered, in and out of work for life.

Iain Duncan Smith, as ever cavalier with numbers, claimed in the Mail on Sunday that his cap on benefits is driving people into work, before it’s even begun. “These figures show the benefit cap is already a success and is actively encouraging people back to work.” He says 58,000 claimants were sent a letter warning their benefits will be capped next April. Of these 1,700 have since then taken a job. But that’s fewer than 3%, which the Institute for Fiscal Studies says is consistent “with the policy having no effect at all. Over any period, some fraction of an unemployed group will probably move into work.”

But no one really knows, because the Department for Work and Pensions didn’t collect any figures for how many of this group usually moves into work. So Channel 4′s brilliant FactCheck concludes: “His figures don’t show the benefits cap is already successful at getting people back to work.” When challenged, the DWP had to fall back on faith: “The secretary of state believes that the benefits cap is having an effect.” Faith-based policymaking is something he is good at.

Faith is what’s needed for his Work Programme, too: what sort of claims will

Penny Stock Picks

Post to Twitter

Post a comment