Desperate Times Are Now, Need to Address U.K. Labor Shortages: CBI

The video discusses the UK's economic challenges post-Brexit and post-pandemic, focusing on labor shortages, energy crises, and inflation. It highlights the need for short-term solutions like reskilling and immigration adjustments, while emphasizing long-term strategies for investment and growth. The importance of government and business collaboration is stressed to ensure a stable recovery.

What is one of the main reasons for the labor shortages in the UK post-Brexit?

• Increased demand for goods

• High unemployment rates

• Lack of skilled workers

• Loss of free movement between countries

What is the estimated cost for reskilling the UK workforce over the next 10 years?

• £50 billion

• £130 billion

• £500 million

• £200 billion

How did the furlough scheme impact the unemployment rate in the UK?

• It increased unemployment to 10%

• It reduced unemployment to less than 5%

• It had no impact on unemployment

• It caused unemployment to rise to 7%

What is a major concern for the UK economy as it recovers from the pandemic?

• Stagflation

• Deflation

• Hyperinflation

• Recession

What has been the impact of the global energy crisis on UK businesses?

• Decreased energy prices

• Increased energy exports

• Stable energy supply

• Record high energy prices

What is the predicted inflation rate by the Bank of England for the next year?

• 8%

• 6%

• 4.5%

• 2%

What is the government's stance on raising taxes to support the NHS and social care?

• They plan to decrease taxes

• They have already announced tax increases

• They are considering further tax cuts

• They have no plans to change taxes