The New Economics Foundation has just added some fire to the concept of the four-day workweek. The group was tasked with finding a solution to the ongoing “productivity crisis” that’s currently taking place in Great Britain (and has been for the past decade). Politicians have been coming up dry – and the hope was that the NEF could come up with a solution.They have.
According to their research, switching to a four-day work week by the year 2030 would would boost morale and, in turn, boost productivity…especially when combined with the other part of the think-tank’s solution –boosting the living wage.
Currently the country’s expected wage-boost is somewhere around $15 an hour (in US money). The New Economic Foundation suggests it get bumped to more than $24 per hour. The idea? To boost the income of the nation’s poorest 50% by 13%, which would in turn boost disposable income and spending in the economy. On the flip side, the incomes of the richest 10% would drop by 8%.
Will anyone jump on the ideas? Who knows. Will it cross the pond? We’ll see.