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Recent posts
- Why people risk insecure work
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- Film and TV drama healthcheck (plus a footnote about distribution ‘windows’ and cinemas).
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- Bank Rate rises. Inflation rate stubborn.
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- Theatre skills shortages at a ‘tipping point’
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- Two freelance tax developments to note
- Inflation update and the fall in real wages
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- UK independent productions, the inflation punch-in-the-mouth, and the very European remedies.
- Inflation update – August 2022 figures
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Recent Posts
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- Inflation update and the fall in real wages | Bectu Freelance Research on Earnings growth – private sector workers outpace the public sector
- Paul Evans on Applying for a Lorimer Letter (LP10)
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Category Archives: Economics
Why people risk insecure work
An interesting report from The Work Foundation (via Lancaster University) has just landed. Published in partnership with Unison, it looks at the choices and experiences of those in insecure work, and the kinds of interventions that could support them into … Continue reading
Posted in Economics, Employment, Freelance working, Freelancer rights, Gig economy workers, Productivity, Welfare and benefits, Wellbeing
Tagged Unison, Work Foundation
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Freelancers and the welfare system
This site has carried plenty of posts about freelancing and employment status, tax status, their pension status, and it probably needs a bit more on the generality of freelancing. We often debate whether ‘freelancer’ is even a thing. It doesn’t … Continue reading
Posted in Employment Law and Rights, Employment status, Equipment and kit, Freelance working, Freelancer rights, Gig economy workers, IR35, Management, Personal Service Companies, Productivity, Skills & capacity, Tax, Universal Credit, Welfare and benefits, Wellbeing, Work-life balance
Tagged Equity, Minimum Income Floor, Work Intensity
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Film and TV drama healthcheck (plus a footnote about distribution ‘windows’ and cinemas).
It’s been a bad few weeks for cinemas in the UK with Empire Cinemas putting a number of their companies into administration – closing six of its 14 cinemas (Bishops Stortford, Catterick Garrison, Sunderland, Swindon, Walthamstow, Wigan) and a further … Continue reading
Posted in Cinema exhibition, Economics, Feature film data, Film & TV industry data, Film & TV industry policy, High End TV data, Low budget features, SVoD
Tagged Cinema/Theatrical release, European Audiovisual Observatory, Independent production sector, SAG/AFTRA
Comments Off on Film and TV drama healthcheck (plus a footnote about distribution ‘windows’ and cinemas).
Bank Rate rises. Inflation rate stubborn.
As widely expected, The Bank of England has increased rates to 5% from 4.5%. This is the 13th increase in a row, and it is a response to Inflation Rates that are remaining stubbornly high. The recently-announced May 2023 RPI … Continue reading
Posted in Economics, Housing costs, Inflation, Productivity
Tagged Bank of England, Inflation forecasts, Interest Rates
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Flexible working, and work-from-home update
The question of flexible and ‘WFH’ employment has become a vexed one in recent years. Anecdotal claims about how WFH damages work-life balance with people voluntariliy working longer hours have been quite widespread (along with other downsides). Other surveys have … Continue reading
The Broadcast Indie Survey 2023
The Broadcast Indie Survey 2023 is out [£] and I’ve given it a quick scan. Here are the highlights: Fragile confidence I you had to sum up the industry’s future outlook based on Broadcast Magazine’s 2023 Indie Survey in one … Continue reading
March Budget 2023 with added inflation catch-up.
Firstly, everything that was said in last week’s budget needs to be placed in some context. It seems that British economic analysts seem to have completely lost the ability to forecast inflation – a problem that may make a nonsense … Continue reading
Unexpected rise in self-assessed tax receipts
Public sector finances are looking unexpectedly rosy following better-than-expected tax receipts. As the FT reports… “Jeremy Hunt has received an unexpected £30bn windfall in the public finances ahead of his March Budget, giving the chancellor scope to provide extra support … Continue reading
Posted in Economics, Employment, Employment status, Freelance working, Freelancer rights, IR35, Tax
Tagged Freelance working norms
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Four day week trial
The BBC are reporting on a UK-wide six-month trial, testing the costs and benefits of a four-day week on full pay, across a wide range of different firms. The trial was conducted between June and December 2022, organised by 4 … Continue reading
Posted in Economics, Employment, Freelance working, Long hours, Management, Productivity, Wellbeing
Tagged Four day week
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The state of the UK film and TV economy
I occasionally get asked for updates on the general state of the UK film and TV sector, and I can usually reply offering a few links which general readers may find useful. My first, and most current link would be … Continue reading
Posted in Culture policy, Economics, Factual & Entertainment sector data, Feature film data, Film & TV industry data, Film & TV industry policy, High End TV data, Low budget features, Quotas, Regulation, Skills & capacity, SVoD, Tax incentives, TV Advertising, UK studios
Tagged BFI Screen Business Report, Pact Census
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Inflation update and the fall in real wages
The November inflation figures have just been published by the Office for National Statistics (ONS). CPI is now running at 10.7% with RPI also down slightly at 14%. All the forecasts have been suggesting that it will level off at … Continue reading
IR35 is back (it never went away). What reforms are needed?
I had planned to post this a few weeks ago, but then Kwasi Kwarteng’s Growth Plan scuppered all of that with its oddly-framed decision to “scrap IR35”. However, we can carry on as usual now that Jeremy Hunt has reversed … Continue reading
‘The Growth Plan’ seems to be on it’s knees. What does this mean for Bectu freelance members?
Update: I’m not deleting this post because I think deleting posts is usually a mistake. But I will say that most of what it contained on the 14th October 2022 was irrelevant three days later as the BBC’s Faisal Islam … Continue reading
Posted in Economics, IR35, National Insurance Contributions (NICs), Tax
Tagged Corporation Tax, Employer NICs, IR35, NICs
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Living Wage Foundation brings its annual announcement forward
As reported here in the summer, The Living Wage Foundation has brought forward their announcement of the annual Living Wage/London Living Wage increase. The new figures are £10.90 (90p increase)/£11.95 (£1 increase) respectively – the largest ever annual increase (last … Continue reading
Earnings growth – private sector workers outpace the public sector
Incomes Data Services (IDS) are reporting…. “Average earnings growth was 6.8% in the private sector in the year to August, contrasting with a growth rate of 2.2% in the public sector (excluding financial services)…” One would think this is encouraging … Continue reading
Inflation update – August 2022 figures
A pleasant surprise came with the August 2022 inflation figures. CPI was down the 9.9% with the annual RPI inflation rate staying level at 12.3%. CPIH is also slightly down at 8.6%. Most forecasters were expecting further increases. Last month, … Continue reading
Posted in Economics, Inflation, Low pay, Pay & inflation, Wages and Pay-rates
Tagged CPI, CPIH, Energy bills, Liz Truss, RPI
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July inflation figures. There’s no good news here…
By now you will probably have seen this morning’s announcements about July’s inflation rates. CPI has reached 10.1% (RPI = 12.3% and CPIH = 8.8%). The Bank of England is predicting that it could go as high as 13% thanks … Continue reading
Posted in Economics, Housing costs, Inflation, Low pay, Pay & inflation, Wages and Pay-rates, Wealth inequality
Tagged IFS, Inflation, Inflation Calculators
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Inflation update
None of this should be much of a surprise now. June’s figures are out and the figures are 11.8% (RPI), 9.4% (CPI), and 8.2% (CPIH). Remember, all wages that don’t keep pace with inflation result in short-term falls in standards … Continue reading
TUC update on insecure work
The TUC have published a report on the economy’s increased reliance upon insecure work (there are 500,000+ more insecure workers now than there were in 2016), calling for “Government inaction has left 3.7 million people in insecure work. Despite the … Continue reading
UK economic outlook – forecasts downgraded – what this means for freelancers
Unless someone tells me otherwise, it seems that the biggest issue for many freelancers arising from the cost-of-living crisis is the question of rising fuel costs – and this is likely to hit workers in film and TV particularly hard … Continue reading
Posted in Film & TV industry data, Freelance working, Inflation, Pay & inflation, Tax, Wages and Pay-rates
Tagged Fuel costs, Mileage
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Living Wage Foundation response to the cost of living crisis
As the cost of living soars at rates not seen for more than thirty years, the Living Wage Foundation has announced plans to bring its annual announcement forward from November to late September. The previous figure was announced in mid-November … Continue reading
April inflation figures – again, worse than expected
Even by the standards of the past 18 months where all forecasts have been shown to be over-optimistic, the leap in CPI inflation between March and April from 7% up to 9% is a startling one. Here’s the ONS summary … Continue reading
Posted in Economics, Inflation, Low pay, Pay & inflation, Wages and Pay-rates
Tagged Office for National Statistics, ONS
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Professionally Made, Professionally Paid – Equity campaign
Just a quick bookmark for an excellent bit of campaigns literature from Bectu’s sister union Equity – Professionally Made, Professionally Paid – an important part of the steps unions are taking to promote a professional attitude to the arts against … Continue reading
How inflation is affecting individual households
Further to the previous post on the cost of living, Bectu reps may wish to circulate this Office for National Statistics (ONS) page on how to calculate your personal cost-of-living changes.
Getting the current cost-of-living crisis in perspective
How can we understand the current cost of living crisis in perspective when talking to Bectu members about their wages? One way would be to look at it over a few years. In the past few days, coincidentally, I’ve had … Continue reading
Sunak’s spring statement 2022 – initial details
Firstly, with inflation up again at 6.2% from 5.5%, the growth forecasts are fairly conservative at the moment and “we don’t really know how the situation in Ukraine will affect all of this” runs like a subtext to all of … Continue reading
Inflation – latest
Not a detailed post but a useful snapshot. The latest KPMG forecast for UK inflation has it peaking at more than 10% later this year (due to energy price spikes)… pic.twitter.com/7RvQ49MVi3 — Ben Chu (@BenChu_) March 9, 2022
Posted in Economics, Inflation, Wages and Pay-rates
Tagged Inflation, Inflation forecasts, Ukraine
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January’s inflation figures
Today’s UK inflation figures show cost-of-living increases that reach the highest rate for over 30 years. The Office for National Statistics (ONS) reported that the consumer prices index (CPI) measure of inflation increased to 5.5% in January from 5.4% a … Continue reading
Posted in Economics, Inflation, Pay & inflation, Wages and Pay-rates
Tagged Inflation
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Inflation update (spoiler alert: it’s not good news)
Towards the end of last year, economic forecasters could safely have been described as ‘alarmed’ by inflation figures. I don’t post on this every month (the last real mention was here) and I was briefing members towards the end of … Continue reading
BFI Screen Business report details the scale of the UK production boom
Anyone who has any doubts about the size and scale of the UK production boom can have a look at the latest BFI Screen Business report (if the annual Pact Census most recently published in September wasn’t convincing enough!). The … Continue reading
Posted in BBC, Economics, Factual & Entertainment sector data, Feature film data, Film & TV industry data, Film & TV industry policy, High End TV data, Public Service Broadcasting, Quotas, Skills & capacity, SVoD, Tax incentives, UK studios
Tagged BFI, BFI Screen Business Report, Pact Census, UK Studio Watch
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What do employers need to do to retain talent?
It’s something of a recurring theme from the Pensions & Investment Research Consultants (PIRC), but all of the research (including their own work with Autonomy and Survation – [pdf]) point to a need to pay people better, treat them with … Continue reading
Posted in Economics, Employment, Employment Law and Rights, Long hours, Low pay, Management, Mental Health, Productivity, Wellbeing, Work-life balance
Tagged Job retention, PIRC
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Working terms in Swedish productions
It’s always worth looking at how other countries do work hours in the film and TV industry, and it is a commonplace view that the Swedish drama sector manages a high quality of production on working hours that also give … Continue reading
Posted in Bectu Agreements, Employment Law and Rights, EU & Brexit, Factual & Entertainment sector data, Feature film data, Film & TV industry data, Health & Safety, High End TV data, Long hours, Major Motion Picture Agreement, Productivity, SVoD, Tax incentives, Trades Unions, TV Drama Agreement, Work-life balance
Tagged Eyes Half Shut, Scen and Film, Sweden
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The Relph Report (2002) on low budget films
In 2022, our Copyright Committee will be looking at issues relating to ‘residuals’ – giving workers ‘points’ in films that they work on. Just going through the archives, I’ve found The Relph Report from 2002 [pdf] that talked about how … Continue reading
“… the self-employed remain something of an inconvenient afterthought”
There’s a useful post here from Paul Johnson of the Institute of Fiscal Studies highlighting a number of factors that leads to the conclusion that our ecoomy and employment / tax / benefits framework has been designed around an economy … Continue reading
Posted in CJRS & SEISS, Coronavirus, Economics, Employment Law and Rights, Employment status, Freelance working, Freelancer rights, Gig economy workers, Management, Personal Service Companies, Productivity, Welfare and benefits
Tagged IFS, Pensions, Self-Employed Income Support Scheme (SEISS), The Freelance Deal
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