7am announcement to say inflation has plummeted

7am announcement to say inflation has plummeted

You’re all waiting up with baited breath for the 7am announcement to say inflation has plummeted – right?

That’s what the pundits are saying. Here’s Gary Stevenson:

Your life will not get better; your groceries will not be cheaper; Rishi Sunak and Jeremy Hunt should not get credit for this. They’re just a couple of grinning idiots in this (see the featured image).

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Gary’s right that it was pointless to pledge that inflation would fall; This Writer said it would happen as the higher figures fell off the back end of the year that’s counted in annual figures. I said it was never anything to do with the Tories.

In fairness, Gary is decent enough to show that the inflation spike was not the fault of the Tories. His point is that if they can’t take the blame for it, they can’t take credit for getting rid of it, either.

Inequality still increased massively. The quality of life decreased massively. And those things haven’t changed.

He warns against the politicisation of economics; if a new political party takes over the government after the general election (as seems likely – and seems likely to be Labour), then it will not be serious about reducing inequality.

The problem is structural, and neither the centre-right nor centre-left parties are serious about changing it; they are funded by very rich people who don’t want to pay higher taxes, and that’s the only way to stop inequality.

What, you thought our political parties were funded by us? Well, now you know better.

And now, here’s Richard Murphy:

He’s saying much the same thing.

His innovation is in saying the Bank of England has not been telling us the truth about what has been going on in the economy.

He says this is so interest rates can remain high, placing a burden on ordinary people and increasing inequality.

Remember what Gary Stevenson was saying about inequality, above? Now you can see who some of the enemy are.

And he names another: Rachel Reeves, Labour’s shadow chancellor.

The take-out is this: listen to what she says after the inflation rate is announced, and see whether it corresponds with what Gary and Richard are warning.

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