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Well he isn't directly but: > someone needs to accept that they’re worse off and stop trying to maintain their real spending power by bidding up prices, whethe
by jarym 3y ago
Well he isn't directly but:
> someone needs to accept that they’re worse off and stop trying to maintain their real spending power by bidding up prices, whether higher wages or passing the energy costs through on to customers.
Coupled with prior remarks from the BoE governor:
> In the sense of saying, we do need to see a moderation of wage rises, now that's painful. I don't want to in any sense sugar that, it is painful
And add to that politicians using that (amongst other things) to deny pay rises for healthcare workers who've had a real-terms cut to wages of 25%+ over the past decade (when inflation was supposedly under control yet easy money was pumping risk assets like stocks).
Together, it all paints a picture of: hey we can't control prices for food and energy, and because of inflation we have to increase taxes, and also we can't pay you more, oh and because we're going to support energy prices we will also have to tax you more.
In totality, one should understand the frustration felt here is a culmination of the inequity that's been slowly building over a long time.
I'm lucky, I'm relatively well off but I don't want to live in a system that screws (or at least appears to screw) the least-well off at every turn.