By Edwin Whiting
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Extra info for A Guide to Unemployment Reduction Measures
It seems reasonable that the unemployed then become pensioners, expressing the reality of the situation, as in France. No replacement, ipso facto, is possible or likely for some time, and it may be that early retirements in redundancy situations are responsible for the low replacement rates given by the Department of Employment to the House of Commons Committee. In the UK men unemployed over 60 receive long-term supplementary benefit, which is the same amount as the national insurance pension. They are not registered as unemployed so they do not appear in the unemployment figures.
Index-linked pensions in payment are regarded by many as the top priority if there are any spare funds available. However, an increasing number of retired people own their homes and their mortgage payments have ceased. It is possible by home income schemes for older people to re-mortgage their house and use the proceeds to buy an annuity to provide income. More facilities of this kind are advocated by Johnson. 25 Riley maintains that the young are squeezed by the old through the housing market.
Broadly the net cost or saving can be translated directly into an increase or decrease in the Public Sector Borrowing Requirement (PSBR). Unemployment Reduction Measures 24 There are some important unemployment reduction measures (mostly in Group B of the Contents table) that have always been regarded as the province of the employer and have not normally been considered as suitable for intervention by Governments in the UK. Companies do have a certain social conscience concerning unemployment and many would like to reduce it, especially if other more commercial objectives are achieved at the same time.
A Guide to Unemployment Reduction Measures by Edwin Whiting