If they don't know they should be fired. It is not wage/spending driving inflation.
Your answer to inflation is to give people more expendable income?
That is my answer to the recession being caused by the interest rate hikes which should not have happened. The BOE fudged up by increasing the rates to dampen inflation. That was the wrong lever to pull.
The correct lever was to stop printing money to pay for unaffordable spending over the last few years. Given they don't have a time machine, it was the only one available.
It's pathetic isn't it, it's like little kids bickering in the playground
To a hammer everything looks like a nail. It was the wrong choice, though not unique to UK. A similar call was made by other cental banks, all wrong calls too IMHO. Inflation in the UK was caused by externalities - war, climate change, and of course brexit. Having a loads of muppets in government didn't help either.
The biggest problem for the UK was reliance on gas for electricity generation. Would have been negated by not prematurely closing North Sea oil exploration, but like I said, that's not the answer you want to hear.
Yes it's a good direction to take and one we should be focussing on.
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That's the eventual aim, but killing gas before we get there is beyond stupid.
The biggest issue was that the energy prices are tied to the gas prices. An ancillary issue is the UK shut their storage facilities. Energy companies made money hand over fist and this is why the EU are working on decoupling the electricity price from the gas market. The cheapest energy is renewable.
The UK is doing pretty well on that front.
Agreed. I'd forgotten about dropping the storage too (although that would have been no more than a slope up rather than a spike).
It's just the dying embers of a long term government - it always happens in the last year here.