The monetary drain reducing supply side investment and jobs
Besides draining the purchasing power of money as a result of inflation and economic depression, QE has also resulted in companies buying back their own shares (f) as opposed to investing to increase productivity as well as channelling funds offshore (o) into manufacturing and other ventures that compete with British activities and depress employment. The offshore investment proceeds are often rotated to reinvest and profits held offshore to avoid British corporate taxation leading to lower revenues by the tax authorities.
The combined effect of these elements is to have a direct impact on wages as a result of the opportunity cost of not investing in productivity and channelling funds offshore.
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