Home > Economy, Great Britain, Labour Party, POLITICS > The Cretins at the Bank of England.

The Cretins at the Bank of England.


Ok, here we go: inflation creeping up to 4%+, this is cost price inflation, largely due to oil price increases, some of which is due to speculation, gas and electricity costs likewise rising, and what do we get? The cretins at the Bank of England think we need a dose of inflationary interest rate increases, we the consumer, working families must be punished, we apparently must spend less, borrow less! 

Coupled to this is the government incomes policy, low pay increases for the public sector, the private sector being rather more difficult to impose an incomes policy. At least in the days of old Labour ministers would also implement a prices policy. 

We have entered, thanks to government and Bank of England policy, the economics of the madhouse: wrong policies, wrong solutions! Increasing interest rates is not the answer: it is in itself inflationary.

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