The argument that pay rises will fuel more inflation is a disingenuous one. And it is for two obvious reasons. All of the pay increase will firstly be subject to tax. Secondly, rather than being spent on goods and services, which would fuel inflation, it will be spent on paying their energy bills. So it is quite likely that inflation will fall anyway. Danny Blanchflower. ( The economist not the footballer - he's dead) argues that the big fear now is that deflation will follow and this will be even more disastrous. Tubs and co have ****ed up big style. Bring on Batshit Lizzie Bentgob!
There just warming up for the usual weekend “whineathon”. As it’s a BH weekend, they get an extra day to spend constructively on here
I'm not at all surprised, though not a little bit amused, that the concept of renationalising energy suppliers, who would go bust anyway without taxpayer support because their customers would be unable to pay their bills, seems to have generated (pun intended) a preposterous distraction from Roger Irrelevant that we would have to pay more than the £100bn proposed relief intervention. Really? Just think about it. Pissed, as you say, yes. Yes indeed.
I wouldn't be too upset about the blatant tight wing BBC , sewerage in your cornflakes or expensive energy bills. You have all ruined your immune systems with gene editing experiments and will be dead within 5 years If the EUROPEAN UNION hasn't starved us all to death by then by shutting down farms
As said further up the thread, Sunak himself let this cat out of the bag. Giving pay awards to public sector workers not involved in the value chain of goods or services does NOT affect the final price of the said product or service by definition, so RPI (or CPI) is unaffected. The argument then is totally an austerity one - keeping public sector pay artificially depressed is more to do with taxation - and Sunak is rightly trying to argue against the neo-Con loons like Truss, Redwood and Minford that decreasing taxes during high inflation fuels the fire rather than fights it. We NEED tax rises for the wealthy, not the opposite.
Watching all the same idiots that were supporting lockdowns and billions of tax payers money to be spent on ALL of the covid bullshit as well as sacks of cash to Ukraine. Now wondering why everything is more expensive proves how stupid people can be . Most probably think closing down our production of oil natural gas and ending nuclear power is necessary to meet our carbon net Zero goals too , but horrified that energy prices are soaring . Close down half of Europe's cattle farms then complain that the Tories and Brexit made beef and dairy products three times as expensive. Binary thinkers are beyond stupid
How has closing down European farms ( if that is correct) affected meat and dairy prices in the UK? I would think that very little of those products are imported.
BREAKING: California to BAN Sales of Gas-Powered Vehicles https://us24news.com/2022/08/24/breaking-california-to-ban-sales-of-gas-powered-vehicles/
https://meatmanagement.com/beef-imports-into-the-uk-drop-by-3-in-2020/#:~:text=Imports from the EU continue,13% when compared to 2018.
