growstuff
GrannyGravy13
Ilovecheese
You right wingers want a market led society and then object to paying market rates.
Not at all, I am all in favour of paying the right amount for the job.
As long as everyone realises that 30% pay increases will fuel inflation, force the B of E to increase interest rates, prices will rise in all sectors etc.
But how would it fuel inflation? Inflation isn't being caused by wages. Doctors don't produce anything which would cause higher prices of goods.
Neither do teachers, nurses or railway workers!
We already have price rises caused by fuel prices and supply problems caused by covid and Brexit. We don't have a problem of wages forcing price rises, we have a problem of people being so poorly paid that they can't afford anything more than the basics (and sometimes not even that). This is really bad news for the domestic economy because it means that they are not spending in the other businesses which provide what one might term 'less essential' services; hospitality, leisure, clothes, knick knacks etc. etc. thus putting them in danger of going out of business, or lay off staff, or at the least, the business owners not having money to spend on these services.
Raising interest rates is the most stupid thing the BoE has done because it means more expensive credit, particularly mortgages, which people cannot afford to pay, or will go deep into debt to try to pay.
Raising interest rates only has a chance of succeeding if there is too much money in the economy. Which there clearly isn't. It also encourages people who do have money to save, taking even more out of circulation in the domestic economy.
And tax increases for the already struggling
Total economic illiteracy. Any tax increases should be on excessive profits and dividends, and wealth at the upper end of the scale.
The argument that the government needs the taxation to pay for public services is not only a falsehood (as I've said many times before) but, as the treasury is raking in massive amounts from higher fuel duties and VAT on higher priced goods, it is playing the population for fools...
Why is the government bent on impoverishing us?