The Times They Are A-Changin’: Saturday’s Kids 

 

 

“These are the real creatures that time has forgot,
Not given a thought, it’s the system,” 

 

 

In “Levelling-up and Net Zero”, I wrote: “as part of the government’s priority for dealing with the cost-of-living crisis, the initial focus is income inequality”. 

 

Whilst Labour appears to have recognised they need to consign statistics such as top 20% of the population receives C.35% of total disposable income, the bottom 20% just 8%, to the dustbin. 

One of their focuses is youth unemployment via a “skills revolution”, based on a apprenticeship scheme that provides young adults with attached training for a minimum of 8-months. 

Unfortunately, research by the Fabian Society, shows that only 160 young people enrolled in the first 8-months. The target is to start 30,000 “foundation apprenticeship” by the end of this parliament. 

Currently, there are almost 1-million 16- to 24-year-olds not in employment, education or training (Neet). The report found that overall apprenticeship starts among under-25s are C.40% below their level of a decade ago – the largest decline among advanced economies. 

 

‘Our young people are becoming a “lost generation”’

 

Our young people are becoming a “lost generation”, with unemployment amongst young people growing faster than in other countries, amid rising levels of mental ill health and the slowing jobs market. 

Right-wing politicians and their media tell anyone who listens that Neets either aren’t trying hard enough to find a job, or don’t want one. This is the usual get tough rubbish from the friends of capital, as research shows that 84% of Neets want to work. 

Research by the Institute for Public Policy Research (IPPR) ranked British towns according to the availability of jobs for young people, as their prospects are often decided by where they live: Rotherham has one suitable vacancy for every 22, whilst the Cotswolds has one for every four. 

The north-south divide is prevalent, with affluent towns in southern England accounting for 90% of the areas with the highest numbers of vacancies. The bottom is a list of the towns hollowed-out by deindustrialisation. 

Plans to devolve vocational training to local authorities, who are better placed to understand the demands of regional labour markets than Whitehall civil servants are a start, but we needs to be realistic as to where “good” jobs will come from.  

Talk of “reindustrialising” is problematic; as manufacturing has developed, it has lost the ability to reliably create widespread employment. Even the powerhouse economies of America and China, where governments have generously subsidised industry, manufacturing jobs continue to fall as a share of total employment. 

As a result, it is likely thar little of our future employment will be in manufacturing or high-productivity service sectors, but in industries such as retail, hospitality and care. If the government wants to create “good growth in every postcode”, they need to focus on industries where young people can enjoy the gainful employment opportunities enjoyed by their predecessors. 

Of course, the right will also tell us that immigrants are taking all our jobs. 

 

‘little of our future employment will be in manufacturing or high-productivity service sectors, but in industries such as retail, hospitality and care’

 

Nigel Farage, the Reform leader and mini-me Trump, says he plans to “hijack” Donald Trump’s hardline ICE adviser, Tom Homan, and bring him to the UK “to secure our borders”. 

Homan is Trump’s key adviser on ICE, which is under scrutiny over its aggressive approach to immigration enforcement after a number of fatal shootings by its agents, including two people in July. 

In Trump’s first term, he helped to design some of the administration’s most draconian measures, including  family separation, a strategy reportedly deemed too severe by officials in the Obama White House, but which later became central to Trump’s “zero tolerance” policy. 

Elsewhere in his speech, Farage called for Europe to take a “more sensible view” of the Trump administration rather than seeing it as “villainous”. 

Another Reform MP, Danny Kreuger, told us that asylum seekers who arrive on small boats are “wealthy men”.  

Potential donors, perhaps? 

Kreuger was asked by the moderator of Big Brue festival in Bruton, Geordie Greig, also the editor of the Independent, as to how he knew these men were wealthy,said: “Because they’re paying thousands of pounds. They’re paying thousands of pounds to people smugglers to get here. Comparatively wealthy, compared to the people who I think most of us can regard as really deserving of the compassion of the British taxpayer.”  

In response, Seema Syeda, a Joint Council for the Welfare of Immigrants spokesperson, said: “The reality is that most asylum seekers who arrive here are denied the right to work, live off as little as £8 a week, and can end up in destitution. But in the end, whether rich or poor, people fleeing war and persecution deserve to be welcomed. The right to safety is a human right. 

“Many people arriving here have been forcibly displaced due to war, genocide or imperialism that the British state has, past and present, funded or supported.” 

Danny is an old Etonian, who’s parent are of South African origin. Enough said, I think.  

Our politics is increasingly being funded by individual billionaires, especially over the past two parliaments, with £179m being donated by wealthy individuals since 2019, according to research from the IPPR. 

Ground zero appears to be when the Brexit party received £10m from the Thailand-based billionaire Christopher Harborne and the LibDems were given £8m by supermarket owned David Sainsbury, who has since returned to Labour. 

Harry Quilter-Pinner of IPPR, said: “Reform’s extraordinary fundraising has accelerated that trend, but this is much bigger than one party or two enormous cheques. This is the Americanisation of British politics, where political parties can become dependent on a handful of people with exceptionally deep pockets. 

“Britain should draw a clear line. The government should introduce a £100,000 annual cap now and bring it down over time, so that no individual can bankroll a political party simply because they are incredibly wealthy.” 

 

‘Reform MP, Danny Kreuger, told us that asylum seekers who arrive on small boats are “wealthy men”’

 

We finish this with  proof of the old saying; if you can’t beat them, join them.  

Or, more appropriately, selling-out, as former Labour minister and colleague of the PM, Tom Watson, has joined Palantir, the controversial US AI company. 

Watson hire is presumably intended to help Palantir fend off pressure on Burnham’s government plan to axe its £330m NHS contract. It is also fighting Sadiq Khan in court over the Labour London mayor’s block on a £50m contract to use its AI in Metropolitan police investigations. 

The company was co-founded by the Trump-supporting billionaire Peter Thiel and provides AI-powered software to the Israeli military and the White House’s ICE immigration crackdown.  

All I could think was ……… 

 

 

“Anyone who had a heart” 

 

Today, and quite topically for our charity, we look at youth unemployment. It is clear that we need to consider geographical issues when targeting projects.

For many, income inequality is now a fact-of-life, perhaps for young people there is still time to something about it.

The government wants to build, but everyone I talk to says, there is a shortage of skilled people to fulfil  their ambitions.

Yesterday’s two regional elections in Germany highlighted voters disenchantment with mainstream parties and politicians.

They also highlighted regional differences. The former East German region favoured the AfD, perhaps reflecting their feelings of being left-behind by more prosperous regions. Also, I suspect older voters might prefer more authoritarian government, where immigrants didn’t feature.

Berlin, told a very different story. A multi-cultural metropolis with younger voters who supported the left-wing Linke party.

Back home, there was more bad news for our beleaguered chancellor, as the S&P Global consumer sentiment index dropped to 42.7 from 42.9 in August, indicating “a notable strain on financial confidence across UK households”.  

S&P Global said consumers were concerned about the likelihood of an increase in interest rates by the Bank of England. More than 50% of 1,500 respondents said they expected a rise in the cost of borrowing over the next year.

Still, as Farage said, we must start to view Trump as a decent fellow!

Lyrically, we start with “Saturday’s Kids” by The Jam, which sums up the plight of todays young. To end, we have “Anyone Who Had a Heart” made famous by Dionne Warwick and Dusty Springfield, and butchered by Cilla Black, dedicated to the sell-out himself!

Philip.

 

@coldwarsteve

 

 

 

Philip Gilbert is a city-based corporate financier, and former investment banker.

Philip is a great believer in meritocracy, and in the belief that if you want something enough you can make it happen. These beliefs were formed in his formative years, of the late 1970s and 80s

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