This post has been made in response to Kevin Peachey’s article that appeared today on the BBC’s App and website https://www.bbc.co.uk/news/business-57764601 .It is widely expected that the Bank of England will raise interest rates today in order to tackle Inflation. This is a very predictable text book response to Inflation and seen by many as the preferred method to tackle Inflation. The BBC has inferred that this Inflation is as a result of the lack of goods in the Economy after the Pandemic. From what I remember of the Pandemic is wasn’t goods availability that was problematic it was just that there appeared to be a shift away from people actually going to get goods to a situation whereby goods were being mainly ordered and delivered. Sure enough there was some drop in production but this didn’t impact greatly on availability. There was however more of a drop in services in that sector of the Economy. However today all I ever see down our street and on our estate is loads and loads of delivery vans constantly shuffling about and delivering goods to people’s homes via Amazon and DPD to name but a few. Also I myself have ordered much since the Pandemic ended and have enjoyed taking advantage of one day delivery schemes. So when the BBC state lack of goods as a cause of this current period of Inflation , I simply have to laugh. I have never recently gone onto the Internet and Amazon, in particular, where I remember being informed that the goods that I wished to order were out of stock. This has been my recent experience. So where is this shortage of goods driving this Inflation? It simply does not exist but has become an easy scapegoat to avoid the real finger of suspicion.
The Conservative Party’s policies are finally revealed to be a Dead-end Street for Britain. Their policies and ideas are stagnated and simply not relevant for a Britain struggling to develop and struggling under insurmountable Inflation being driven by the immoral greed and profiteering of the Energy and utilities companies in the UK.
Privatisations have spawned monsters with ideas that they can milk demand to death without impunity or consequences. These monster energy and utilities companies are driven by greed acting outside of the national interests without a conscience or any remorse. There sole purpose being to maximise their profits whilst driving Inflation in the UK higher and higher. No longer restrained by governments they can act outside of concerns like fair pricing for energy and act beyond any national concerns. They even set their own prices and Price Cap (joke) without any government intervention. They are quite simply a law unto themselves. And whose fault is it? Well fault can be traced back over many decades to the ill thought out and possibly illegal sale of the resources to private concerns and profiteers. And who wad to blame for that: well previous and current Conservative governments because they did it and the current Conservative governments continue to endorse it. Privatisation was always going to be a Dead-end Street for Britain and we are now at it upper limits with no where else to go other than backwards to find a brighter future without these shambolic profiteering energy and utilities companies dictating the economic situation and profiteering and causing misery and mayhem thanks to the ill thought out policies of consecutive Tory Governments.
For more information go to https://weownit.org.uk/
Neither Rishi Sunak nor Liz Truss have the ideas needed to tackle the current financial crisis and inflation. Both are completely aware of the others failings as was demonstrated in this weeks TV debate. As Truss pointed out, Sunak’s policies are likely to lead to inflation and as Sunak pointed out, Truss’s policies to scrap tax rises will increase borrowing and interfere with Britain’s ambition to reach Carbon Net Zero pledges and targets which could also possibly to lead to increased mortgage rates in the long term. Neither of these candidates for the role of Britain’s next Prime Minister are equipped to deal with the crisis of inflation and do what is necessary to tackle this issue. Sunak and Truss: both are bereft of real ideas to tackle inflation. So what’s to be done?