[Re: Why I’m the first leader to support a looser Bank of England mandate, yesterday]
I’m disappointed by Nigel Farage dismissing inflation. It also has a human cost, especially when accompanied by lower interest rates (which undermine those who have tried to provide for themselves with savings). A better way to generate confidence in the economy is to engender confidence in its currency. Farage just wants more cheap money at the expense of sterling. Now we know Ukip will also kick the can down the road by failing to reconcile government’s tax revenue and spending through monetary sleight of hand. Ukip had my vote in the next election. Now I’ll just stay at home. Perhaps there really is nowhere left to go.
I strongly support Farage’s message, but we must be careful before changing the Bank of England’s mandate. If inflation is left to run rampant, while central bankers focus on employment or growth, the real value of wages and benefits will continue to nosedive.
Another article or two like this, Farage, and you can add another member who has voted for another party for decades.
We are stifled by high energy costs and regulation. There’s not much the Bank of England can do about that.
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I accept Sarah Wollaston MP’s diagnosis of the trouble with alcohol, but price fixing will promote smuggling and illicit distilling.
It would be a cheap populist mistake to ditch minimum pricing. It would undermine any credibility on reducing avoidable deaths.
Cameron says he’ll deal with cheap alcohol. Because government has been successful at dealing with everything else.
Just been reading the story about the UK entering stagflation. Where has everyone been for three years?