Thornberry squirms when asked if Bank of England’s anti-inflation ideas are any good

Emily Thornberry: in this image, she’s making a gesture that, no doubt, she would like to make to whoever asked her to defend the Bank of England, its governor, and its interest rate rise.

Don’t have any sympathy for Emily Thornberry while you watch the clip below; she knows the situation very well and she could always quit if she had the required principles.

She knows that raising interest rates won’t bring inflation down – in fact, it is likely to prop inflation up instead.

She knows raising interest rates won’t ease the bureaucratic costs caused by Brexit, or stop profiteering by energy companies or firms in food supply chains.

And she knows that all businesses will just add the extra costs of higher interest rates into their bills, making consumers – you and me – foot the bill.

Some of them will go bust as a result, because people will decide not to pay their inflated prices, and this is likely to tip the UK into recession.

That, of course, is the last thing the UK needs right now.

All of this is known by Emily Thornberry, but she also knows that Labour policy is to agree that the neoliberal Tories and the neoliberal Bank of England are doing the right thing, even though she also knows that they really aren’t.

So we get to see performances like this:

Cracks are starting to show in the Labour Party’s right-wing facade.

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3 thoughts on “Thornberry squirms when asked if Bank of England’s anti-inflation ideas are any good

  1. The Toffee

    “Nobody’s had a wage rise for…y’know…decades”

    That’s correct, thornberry.

    And when wirkers go on strike for a wage rise, what do YOU do to support them, hmm?🤔

    That’s right – less than sod-all.

  2. Stu

    I’ve always liked Thornberry and always believed that both she and Jeremy Corbyn would have made good Leaders.
    But the way she spouts Starmer’s drivel however reluctantly, shows that “she comes first” before honour and principle.

  3. Tony

    Background information:

    “I went to see Blair/Brown and told them they should make the Bank of England independent.”

    Former Conservative Chancellor Norman Lamont, Reflections, BBC Radio 4, 12 August 2019.

Comments are closed.