The Bank of England and Liz Truss’s government are at loggerheads. Both seem to be working against each other and seem to be opponents. Meanwhile despite this Liz Tuss’s government plays a risky game with people’s pensions and livelihoods. Liz Truss continues to put pensions at risk and puts homeowners in a vulnerable position with their mortgages. This is politics playing with people’s lives. Her actions only compound the ‘Cost of Living Crisis ‘ and make it worse for most people. This is the most irresponsible government that has been seen. This government and Liz Truss and Kwasi Kwarteng in particular continue to demonstrate lack of insight and incompetence. The Tories need to go now. The selection of a bunch of amateurs to steer the country demonstrates and reinforces what I have said previously, that the Tories lack any talent in their ranks and are bereft of real insights into ways in which to tackle the current issues of ‘Inflation’ and ‘The Cost of Living Crisis’.
Sir Kier Starmer sent a strong message to the UK Energy Providers with an underlying threat made at the Labour Party Conference yesterday. If Labour gets elected it will set up a new publicly owned Energy Provider that will be in direct competition with the current UK Energy Providers. However it will be run for the benefit of the public and not as a privatised enterprise. This was initially my idea that I provided to the Labour Party on 19th October 2017. See my post http://havemysay.me.uk/competition-is-the-way-forward-for-the-public-ownership-of-gas-and-electricity-in-britain
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.