Miles Templeman, director general of the IoD, is quoted as saying that: "Many of the measures we have proposed today are long overdue and would improve the UK's infrastructure and the functioning of its labour market. We urge ministers to seize this opportunity."
Not surprisingly, the TUC has been quick to criticise the IoD's proposals, arguing that its plans would not generate growth. TUC general secretary Brendan Barber told BBC Radio 4's Today programme that: "We need decent, fair pay systems and collective bargaining is the way to deliver that." He also said that performance related pay was not a magic solution for boosting productivity, adding that in some situations it had been shown not to work very well by encouraging competition between individuals rather than team work.
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