A Four-Day Work Week Would Be Affordable For Most UK Firms, Says Think Tank
"A carefully designed four-day week could be introduced in the UK immediately and be affordable for most firms with more than 50 workers, a think tank has said," reports the Guardian, citing new research from a not-for-profit think tank: A report by Autonomy – which is campaigning for a shorter working week without loss of pay – said the majority of 50,000 firms studied would be able to cope with the change through higher productivity or by raising prices. The think tank said the government should investigate ways of rolling out a four-day week, starting with the public sector. Although many companies are struggling with the lingering impact of the UK's deepest slump in more than 300 years, Autonomy said that even under its "worst-case" scenario, a four-day week would be affordable for most firms once the initial phase of the Covid-19 pandemic had passed. It accepted, however, that some firms in sectors where labour costs were high and profit margins thin would experience cashflow problems if changes were implemented too quickly. Will Stronge, director of research at Autonomy, said: "For the large majority of firms, reducing working hours is an entirely realistic goal for the near future. By providing a hypothetical 'stress test', we can dispel any myths about the affordability of a four-day working week.
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