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Universal basic income is an idea whose time has come at last

Universal basic income is an idea whose time has come at last 0

Universal basic incomeIt is no longer a question of whether one of the world’s major economies will introduce a universal basic income for all of its citizens, but when. Over the weekend, the leader of the UK’s Labour Party Jeremy Corbyn announced in an interview in the Huffington Post that he was ‘instinctively looking’ at an idea that is already being discussed and piloted in Switzerland, the Netherlands, Norway and Canada. Corbyn may be one of the current glut of what would have once been political outliers in the Western World, but the idea of a universal basic income is one that is increasingly accepted in mainstream economic thinking. The RSA continues to campaign for it and has even put a number on it, suggesting that every UK citizen should be offered £308 between the ages of 25 and 65. Andrew Flowers offers up a masterful and detailed analysis of the economic and political issues involved in this piece on fivethirtyeight.com.

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Growing number of people past retirement age still work to boost income

Growing number of people past retirement age still work to boost income 0

grey poundFor all that everybody bangs on about Millennials, it’s increasingly apparent that the workforce in most nations is actually getting older and that it’s not just Governments who are keen to keep older staff in work, but also people themselves. A new study from MetLife based on Government data claims that nearly one in seven over-65s in the UK are boosting their retirement income by working, earning around £296 in addition per week. The data suggests that the numbers of over-65s working has increased from just 8 percent of the pensioner population to 13 percent in the last ten years, the equivalent of 1.1 million people.  Median earnings from working are £296 a week adding up to annual pay of nearly £15,400. The need to keep working is underlined by the continuing squeeze on saving and investment income, which generates just £312 a year for pensioners on average. The proportion of pensioners earning money from investments has dropped from 72 percent in 2004/05 to around 64 percent now. Around 72 percent of all pensioners have private or company pensions compared with 66 percent a decade ago.

Value of offices and property rental income across the UK hit two year high

Manchester Media CityThe value of commercial real estate in the UK rose for the fourth consecutive month during August, led by increases in the average value of offices, according to a report from Investment Property Databank (IPD). The average value of offices, warehouses, retail and industrial rose by a 0.4 percent across the country. Office buildings rose by 0.6 percent during the month while total return, which combines changes in real estate values and rental income, was 0.9 percent, to reach the highest level since March 2011. The report claims the upturn is down to the wider economic upturn and persistent  low interest rates which incentivise investors to acquire high income generating assets. The report also notes that investors are looking to acquire more property outside of London as the economic recovery spreads across the UK. More →

Millions now able to request flexible working on day one of employment

Millions now able to request flexible working on day one of employment

Millions of employees will be able to request flexible working from day one of their employment, under new government plans to make flexible working the default. Flexible working doesn’t just mean a combination of working from home and in the office – it can mean employees making use of job-sharing, flexitime, and working compressed, annualised, or staggered hours. The raft of new measures will give employees greater access to flexibility over where, when, and how they work, leading to happier, more productive staff. Flexible working has been found to help employees balance their work and home life, especially supporting those who have commitments or responsibilities such as caring for children or vulnerable people. More →

Two thirds of young professionals now have a ‘side hustle’ to make ends meet

Two thirds of young professionals now have a ‘side hustle’ to make ends meet

A relaxed looking young man sitting at a desk to illustrate the idea of a side hustleTwo thirds of professionals under the age of 24 claim to have a ‘side hustle’ – with 74 percent stating it is ‘too risky’ to focus on just having one job as they may have done pre-pandemic. In a poll – of 6,000 white-collar professionals – undertaken by recruitment consultancy Robert Walters; 54 percent of young professionals expressed a desire for a ‘portfolio career’ – the concept of monetising your skills in several ways and having multiple income sources, rather than a single job at one company. More →

Summing up where the office now stands in the scheme of things

Summing up where the office now stands in the scheme of things

A painting in the style of Edward Hopper of a lone man waiting to board a commuter train to get to the office The argument about what it takes to encourage people to come into the office more often seems to have boiled down to an equation. It’s now common to hear somebody argue that the office has to be worth the commute it takes to get to it. So, if you want people to spend more time in the building, you need to do the maths. O must be greater than or equal to C More →

Hybrid working driving demand for areas with easier commutes

Hybrid working driving demand for areas with easier commutes

An office cafe to illustrate the new wave of hybrid workingA report from Unispace claims that employees’ new preference for hybrid working has created an immediate need for firms to re-think their real estate footprint. Today, with over 60 percent of office-based employees preferring to work remotely or in a more flexible way, rather than commute to city centres five days a week, employers are considering the greater use or addition of satellite offices to their portfolio. According to the study of 3,000 office workers across Europe, 79 percent of the workforce would be happier to return to the office if it was just five to 10 minutes away from their home, suggesting that satellite offices could be a solution to boost collaboration, socialisation, engagement and staff retention. More →

Responsible capitalism, and space as a service will shape real estate industry over next 20 years

Responsible capitalism, and space as a service will shape real estate industry over next 20 years

A flexible office space from Instant Offices, a pioneer of space as a serviceEurope’s real estate leaders have set out a long-term vision for the industry. In this scenario the most successful firms have adopted ‘responsible capitalism,’ the user is the centre of attention, the cycle of demolition and development has been broken, mixed-use is the norm and multi-disciplinary and in-house teams deliver space as a service across a range of sectors. Emerging Trends in Real Estate Europe 2023, the twentieth annual survey of European real estate sector leaders’ expectations by the Urban Land Institute (ULI) and PwC, has looked beyond the year ahead at the trends shaping the industry over the next two decades. This report captures the views of over 900 sector leaders from across Europe. More →

Transparency and collaboration key to real estate decarbonisation

Transparency and collaboration key to real estate decarbonisation

An image of the Earth to represent decarbonisationThe Urban Land Institute (ULI) has warned of a ‘carbon bubble’ in the pricing of European real estate and urged the industry to work together to preserve values across the sector as it aims to meet the decarbonisation targets set in the Paris Agreement. To support a more collaborative approach, at the inaugural ULI C Change Summit, the institute has published its Transition Risk Assessment Consultation Guidelines as part of its C Change programme. These guidelines set out a standardised method for assessing the costs of decarbonising buildings and disclosing between owners, investors, potential buyers, and valuers the main transition risks and impact on values. More →

Leading UK employers call for flexible working recruitment by default 

Leading UK employers call for flexible working recruitment by default 

flexible workingA joint letter from 21 leading employers – including several in the FTSE 100 – is calling on employers across the UK to advertise all vacant roles with flexible options by default. The full text is: More →

Half of working parents would leave in search of flexible working

Half of working parents would leave in search of flexible working

A proud dad with a smiling child on his shoulders to illustrate why people want flexible workingA new YouGov poll commissioned by Working Families and SF Recruitment claims to underscore the impact and importance of employers prioritising flexible working as part of their recruitment strategy. Launched to mark the start of National Work Life Week (10-14 October), the poll of 992 UK parents of children aged 18 and under demonstrates that advertising all vacant roles with flexible options stated by default widens the talent pool for employers and unlocks opportunities for parents. More →

Third of firms expect the four-day week to become a reality ‘for most’ in the next ten years

Third of firms expect the four-day week to become a reality ‘for most’ in the next ten years

A man walking a dog to illustrate the four day week giving people more controlA third of respondent organisations (34 percent) to a CIPD poll think the four-day week will become a reality in the UK for most workers within the next ten years. However, only a small minority of firms have moved towards the four-day week to date by reducing hours without reducing pay for their employees, or plan to do this over the next three years. One in ten (10 percent) organisations report they have reduced working hours without reducing pay for the whole or a significant part of their workforce over the last five years, although of these, under half of employers (42 percent) did so as a result of the furlough scheme. More →

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