On Tuesday Vince Cable said that "pure laissez-faire economics" do not work. Today, despite recognising that in the past two years there's been over a million new private sector jobs created, more than suggesting that there isn't any great hesitancy on the part of business to take on staff, apparently the job market needs to be even further liberalised. He might not have gone along with Adrian Beecroft's recommendation for "no fault dismissals", but the capping of compensation for those found to have been unfairly dismissed and a voluntary settlement scheme whereby those wanted rid of agree not to go to a tribunal in return for a pay out is along with the introduction of fees for going to tribunal another loosening of workers' rights. The idea that this will somehow, through making it easier to get rid will in turn encourage those same bosses to hire and thereby drive growth is utterly bogus. It will though delight the headbangers both on the Tory right and at the Institute of Directors, which was the whole point of commissioning Beecroft in the first place.
Labels: Adrian Beecroft, Conservative-Liberal Democrat coalition, economics, Liberal Democrats, recession, Vince Cable