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In the News

Elasticity of Labour Supply - HGV Skills Bootcamp

Graham Watson

12th December 2021

An insight here into the price elasticity of supply of lorry drivers, with the government's HGV HGV Skills Bootcamp programme having seen its funding double to try and reduce the shortfall of HGV drivers.

However, the problems is not that simple: there are a number of bottlenecks in the system. In the first place, it's proving very difficult to get hold of additional HGVs.

Secondly, just because there are more trainees, it doesn't mean that the capacity to test them has been significantly increased with many test centres already fully booked until April.

As a result, we're not going to see a dramatic rise in the number of drivers any time soon, and supply chain issue are going to continue to be a feature of post-Brexit Britain.

Graham Watson

Graham Watson has taught Economics for over twenty years. He contributes to tutor2u, reads voraciously and is interested in all aspects of Teaching and Learning.

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