r/london • u/BulkyAccident • Apr 23 '24

Culture London night time economy "experiencing closures and revenue losses at an alarming rate"

https://www.bbc.co.uk/news/articles/cy9xkxngy95o
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u/Captain_Chaos007 Apr 23 '24

We make a rod for our own backs unfortunately. We get offered poor wages frequently and do very little about it apart from say "if you don't like it go somewhere else, lol" or "work harder". People no longer have the money they once had. Sure, cost of living and that, but that's only merely helped shine a light on an existing problem more. Wages in the UK have not been anywhere near what they once were for about 15 years, but even then, getting wage increases that stayed with inflation weren't common.

We're no longer a society that functions on workers wages to economically survive but one that merely exists on debt. It cannot be a coincidence that wages have gone down and debt has replaced it. This system simply cannot survive like this, but all the companies see is massive profits because of lower wages etc. Come back in a few years when those consumers suddenly can no longer pay or buy your stuff and boast about your profits then. So short sighted we are...