this post was submitted on 14 Jun 2023
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UK Economy
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Yes, making my mortgage go sky high along with the massive energy payments i already pay will really help in stopping me over spending on that frivolous expenditure of food. Should really help thanks.
The cost of living crisis is not going to be solved by making living more expensive to drive down inflation which is caused by record corporate profits and corporate price inflation.
It's so backwards. It doesn't just completely fail to address the cause and source of current inflation, it wrongly blames the consumer for the high prices that we have no control over and actively makes inflation affect us even worse.
Tbf to the Tories they won't be doing this to solve the cost of living crisis, or to address any supply side drivers, as they don't care. Its for the macro financial interests of themselves and the like.
I know its BoE, i mean the Tories inaction to account for the need for it. BoE has one main tool and pressure to use it. Consumers aren't people but fictitious economic entities that can 'adjust' in their minds