In Ñspel │ The Observer view on the cost of living crisis

Wages in Britain have been mostly stagnant since the financial crisis and productivity sits 15% below the United States, Germany and France. Photograph: Gary Calton/The Observer
Wejz in Britn hv bn mostli stagnnt sins ɖ fînanśl crîsis n prodctivti sits 15% b’lo ɖ Ynîtd Stets, Jrṃni n Frans. Foṭgraf: Gari Caltn/Ɖ Obzrvr

Ɖ Obzrvr vy on ɖ cost v livñ crîsis

(Transcription of an editorial published in the Observer on 1 May 2022)

Cabiṇtministrz’ glib śortcuts r dîr rspons t ic̣nomic crîsis

Súnde, 1 Me 2022

Livñstanddz r set t fōl at ɖer fastist ret sins recordz bgan in ɖ mid-1950z. Last munʈ, ɖ Ofis fr Bujit Rsponsbiḷti pridictd ɖt riyl hǎshold incmz wl fōl bî 2.2% ɖs yir, az eṇji n fūdprîsz incris bt wejz fel t cīp pes wɖ rîzñ bilz.

Ɖ impact wl nt b flt īqli. Fr sm, it wl bérli rejistr. Fr uɖr faṃliz, it wl mīn dificlt dsiźnz abt ẃt t cut bac on. Fr uɖrz stl, it wl b pṛfǎnd, strećñ pricerịs bujits in ẃć ɖr z olrdi no giv, forsñ imposbl ćôsz btwn isnślz sć az ptñ fūd on ɖ tebl n cīpñ ɖ hītñ on, n śarṗnñ ɖ fir v ɖ unixpctd ǎtle ɖt cn trigr a détspîṛl fṛm ẃć ɖr z no iscep. Wn esṭmet sjsts lowr-incm hǎsholdz wl fes a drop in incm v £1,300 ɖs yir.

Last wīc, ɖ lêtist ʈncñ fṛm ministrz on hǎ t adres ɖs crîsis in livñstanddz tricld intu ɖ hedlînz aftr a cabiṇt “brenstormñ” mītñ. Grant Śaps, ɖ trnsportministr, pṛpozd muvñ car MOTz fṛm wns a yir t wns evri 24 munʈs, sevñ a wn-car hǎshold a pōltri £23 a yir, at ɖ risc v jeṗdîzñ rodsefti. Ɖ edyceśnsecṛtri, Nadhim Zahawi, sjstd incrisñ ɖ maximm numbr v ćildṛn an rli-yirz wrcr cn b rsponsbl fr in ordr t moḍstli rdys ɖ cost v ćîldcer. Uɖrz arnd ɖ tebl rportidli sjstd yṇlatṛli scrapñ tarifs on fūd imports, ẃć wd wìcn Britn’z hand in tred ngośieśnz, n scrapñ guvnmntcmitmnts t rdys carbn imiśnz, a muv ɖt wd criet sgnificnt loñ-trm ic̣nomic n invîrnmntl costs fr ɖ YC.

Ɖ śalo sjsćnz rvil ɖ guvnmnt’s desṗreśn t gv votrz ɖ impreśn it z tecñ ax́n t adres ɖz harś ic̣nomic srcmstansz, bt wɖt spendñ eni muni. Ɖe r nt sirịs poḷsiz, bt fodr fr pres rlisz bfr ɖ locl ilex́nz.

Britn z xpirịnsñ a pṛloñd ic̣nomic mleiz. Wejz hv bn mostli stagnnt sins ɖ fînanśl crîsis, prodctivti hz bérli groun sins ɖen n sits 15% b’lo ɖ Ynîtd Stets, Jrṃni n Frans, n xtrnl śocs – ɖ slf-inflictd pen v līvñ ɖ YY’z sngl marcit n custmz yńn, n ɖ wor in Ycren – hv snt prîsz roc̣tñ.

Ɖr r no śortcuts t incrisñ livñstanddz. Eni aproć hz t b ʈri-proñd. Frst, ic̣nomic poḷsi nīdz t targit rîzñ prodctivti n t enśur ɖ spôlz r śerd īvnli wɖ implôīz ʈru incrist wejz, ptiklrli fr ɖoz in lo-peid wrc. Wn v ɖ rīznz in-wrc poṿti rets hv rizn z ɖt ɖr r tù mni jobz ɖt simpli d nt pe inuf t inebl ppl, ptiklrli ɖoz wɖ ćildṛn, t enśur a minimm standd v livñ. Ɖt cn b aćivd onli bî narowñ ɖ groʈgap btwn Lundn n ɖ sǎʈ-īst n ɖ rest v ɖ cuntri. It wd tec, at ɖ vri minimm, a radicl rībaḷnsñ v guvnmnt invstmnt in trnsport, infṛstrucćr n scilz awe fṛm ɖ rićist rījnz v ɖ cuntri, ẃć olrdi rsiv mor invstmnt p’ capita, twdz ɖ purist. Brexit hz onli md ɖs tasc hardr; it z fōrcast t sgnificntli rdys xports n t incris rījnl iniqoḷtiz ovr ɖ loñ trm.

Secnd, ɖ riyl-trmz cuts t beṇfits n taxcredits v ɖ past deced fr lo-incm faṃliz wɖ ćildṛn mst b rvrst. In an icoṇmi wɖ sgnificnt amǎnts v lo-peid wrc, ɖr wl olwz b a nīd fr guvnmnt t rīdistribyt incm twdz lo-incm peṛnts. Yt s’xesiv Cnsrṿtiv ćanslrz hv rdyst ɖ valy v beṇfits n taxcredits ovr tîm, wɖ sm faṃliz luzñ ɖ iqivḷnt v ʈǎzndz v pǎndz a yir fṛm ɖer hǎshold bujits, ẃl dliṿrñ xpnsiv incmtax cuts ɖt hv dispṛporśṇtli beṇfitd mor aflụnt hǎsholdz. Ɖs z anɖr ci rīzn ẃ in-wrc poṿti rets hv incrist n ẃ, in a cuntri az rić az ǎrz, ɖr r ppl, includñ ɖoz in wrc, rlayñ on fūdbancs t fīd ɖer ćildṛn. Ɖ s’port ɖt ɖ ćanslr, Riśi Sŭnac, hz anǎnst t hlp faṃliz wɖ eṇjibilz z tù ʈinli spred, includñ acrs hǎsholdz fr hūm it z nt criticl, līvñ ɖ purist faṃliz hoṛbli xpozd.

Last, ɖ guvnmnt nīdz t implimnt strucćṛl rformz t tacl ɖ hî cost v livñ. Ɖ most importnt v ɖz z hǎzñ, ɖ costs v ẃć irod tù mć v ppl’z pêćécs in wn fél swūp. Ɖ YC hz nvr bilt inuf hǎzñ wɖt sgnificnt public sectr invstmnt intu sośl hǎzñ; yt sośl hǎsbildñ levlz hv dropt dṛmaticli sins ɖ 1980z, līvñ ɖ sośl-hǎzñ stoc t dwindl az a rzult v deṃliśnz n ɖ rît t bai. Ɖs hz pśt mor n mor ppl hu hv litl hop v evr bayñ ɖer ǒn hom intu an oṿprîst prîṿt rentd sectr. Britn rjntli nīdz a program v public invstmnt in hǎsbildñ t criet mor aforḍbl homz fr rent.

Ɖz r loñ-trm ic̣nomic rformz ɖt rqîr sstend invstmnt. Īvn f pt in ples imīɉtli, ɖe wl tec tîm t fŭli dlivr fr ɖ icoṇmi. Yt ɖs z a guvnmnt ɖt swñz fṛm crîsis t crîsis, wɖ litl wilñnis or cpaṣti t plan fr ɖ nxt deced n a drʈ v îdīaz t adres Britn’z vri riyl n strucćṛl ic̣nomic probḷmz. Ɖs lacdezicl aproć wl probbli cnsîn s t yirz mor v slugiś groʈ ɖt drîvz incrisñ numbrz v faṃliz wɖ ćildṛn intu poṿti.

Instroduction to Ñspel

01/05/2022

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