@dgar
Sell a man a fish, and he's fed for a day. Teach him how to fish, and you've just lost a valuable customer.
Ferengi version of the same proverb. Or possibly #BankofEngland, it is getting harder and harder to tell.
PMQs: Starmer and Sunak's 'conspiracy of silence' on austerity
https://www.thecanary.co/trending/2024/03/20/pmqs-flynn-starmer-sunak/
#PMQs
#Starmer
#Sunak
#Austerity
#Flynn
#FiatCurrency
#QuantativeEasing
#BOE
#ScottishIndependence
#ScottishPound
#MMTLens
#WestminsterFundingForScotland
#Thatcherism
#ThatcheriteLabour
#Labour
#Tories
#RedTories
Dozens of ‘major’ #compliance breaches, at #BankOfEngland, #NAO reports -
While the NAO said the central bank had “made good progress” it warned there had been an unacceptable level of #ComplianceBreaches of the Bank’s own staff policies over the 12 months to August 2023.
https://www.theguardian.com/business/2024/mar/04/dozens-of-major-compliance-breaches-at-bank-of-england-nao-reports
#BoE
The #ONS will now not have revised labour force (#employment) figures available until the Autumn...
so, on one level we might say the #BoE is 'flying blind' given that they continue to insist the wage- #inflation link is the major factor they need to consider...
or... perhaps the folk in Threadneedle St. might actually look at some other data - imports, profits etc. - to decide on where the drivers on inflation lie....
and perhaps realise high #interestrates are punishing the wrong group(s)!
I'm assuming that the #BoE will be saying about how #mobilephone firms should show restraint in the demands for higher fees from customers....
oh no, wait a minute, they're not pesky #workers demanding a restitution of lost living standards, these companies are needing to make 'legitimate' profits for their investors...
so that's alright then!
https://www.theguardian.com/money/2024/jan/17/uk-mobile-broadband-price-inflation-rises-vodafone
A #BoE deputy Governor is now saying that due to the problems with #ONS data on #wages growth, #interestrates cannot be lowered as the Bank is still unsure about the level of wages rises...
So, despite occasionally admitting that #profits & imports might be contributing to #inflation we're back to the tired old narrative that its #workers are to blame.
Given profits have 'recovered' but real wages remain below pre-2010 levels, I think its fair to say this is about cementing low-wage Britain!
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