"Britain is at risk of an "economic inactivity crisis" as the number of sick and disabled people out of work continues to rise, according to a government-commissioned review led by Sir Charlie Mayfield, the former John Lewis chairman. The report warns that 800,000 more people are now out of work due to health conditions than in 2019, costing employers £85 billion a year in lost productivity, sick pay and staff turnover. Without intervention, a further 600,000 workers could leave the labour market by 2030."
"Sir Charlie said sickness is costing the UK far more than just business losses. "Work is generally good for health, and health is good for work," he said. "For employers, sickness and staff turnover bring disruption and lost experience. For the country, it means weaker growth, higher welfare spending and greater pressure on the NHS." According to some estimates, illness-related inactivity costs the wider economy £212 billion a year - almost 70% of annual income tax receipts - through lost output, welfare payments"
Britain faces an economic inactivity crisis as the number of sick and disabled people out of work has risen markedly. Eight hundred thousand more people are out of work due to health conditions than in 2019, costing employers £85 billion a year in lost productivity, sick pay and staff turnover. Without intervention, a further 600,000 workers could leave the labour market by 2030. One in five working-age people is now out of work and not seeking employment. Illness-related inactivity costs the wider economy £212 billion a year, and spending on health and disability benefits for working-age people is forecast to reach £72.3 billion by 2029-30. Mental health conditions have sharply increased and are a major driver.
Read at Business Matters
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