Most people in Britain are getting poorer. For obvious reasons, the government and supporters of austerity would prefer not to discuss this fact. Yet in the strained language of the Labour right, there has also been a clamour for Ed Miliband to ‘change the narrative’ on the economy by no longer talking about the cost […]
Posts Tagged ‘Inflation’
How long can this go on? Not the Coalition, but peace on the streets?
Aug 16th, 2012 by Michael Meacher.The latest news about inflation – RPI up last month from 2.8% to 3.2% when wages are virtually flat – is bad enough, but the background makes this a whole lot worse. Since 9 August 2007 when the collapse at Northern Rock heralded the start of the Great Financial Crash, debt, despite all the privations […]
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Falling real wages, and still the bastards whinge about inflation
Feb 18th, 2011 by Jon Lansman.Mervyn King recently pointed out that real UK wages in 2011 “are likely to be no higher than they were in 2005… One has to go back to the 1920s to find a time when real wages fell over a period of six years.” This, of course underestimates the drastic fall in living standards, since […]
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Put growth and jobs first
Jan 25th, 2011 by Jon Lansman.Ed Balls lost no time in attacking the government when the latest figures emerged showing a contraction of the economy in the last quarter, urging them to “urgently re-think their reckless plan to cut the deficit too far and too fast and start putting growth and jobs first.” Osborne’s reaction, however, is “we’re not going […]
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Clever ways to clobber the poor
Nov 1st, 2010 by Michael Meacher.The hidden cuts are always the nastiest. Although Osborne announced that for benefit upratings he was abandoning the normal inflation measure that has been used since 1974, namely the retail price index (RPI), and replacing it by a consumer prices index (CPI), the full implications of this have only now become clear. Though […]
