The cost of clothing, petrol and diesel, concerts and plays mean inflation has rocketed – for rich people. Why must we all pay more?
People who don’t have the spending money to drive to nights out at the new show while showing off the latest designer fashions ought to feel aggrieved that the prices of these things mean we all have to pay more.
You see, the higher prices of these mostly-exclusive items means the Bank of England is unlikely to lower interest rates on Thursday (December 19, 2024). This means businesses that have outstanding loans of any kind – in other words, most of them – will have to pay more than they might reasonably have expected.
And that means we all pay more, in increased prices for goods and services.
Buy Cruel Britannia in print here. Buy the Cruel Britannia ebook here. Or just click on the image!
Personally, I’m not happy to pay more at Tesco (or wherever) because some toff had a “walloping night out” watching Wicked (or whatever).
Your mileage may vary, depending on whether you can afford the price of petrol.
But it’s how inflation works. Rises in one sector affect the lot.
It also indicates that the business cycle may have reached a peak and be on its way down. Inflation is rising steadily, and wages for many people have also increased unexpectedly, but employment is being choked off because of the extra charges placed on employers by Rachel Reeves’s Budget, and with interest rates high, investment will also be held back.
Expect a recession in the New Year.
Reeves will be expecting one. She’ll have factored it into her expectations when planning the Budget. She’ll be hoping that the pain she inflicts now will result in a better future later.
But a better future for whom?
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Inflation has rocketed – for rich people. Why must we all pay more?
The cost of clothing, petrol and diesel, concerts and plays mean inflation has rocketed – for rich people. Why must we all pay more?
People who don’t have the spending money to drive to nights out at the new show while showing off the latest designer fashions ought to feel aggrieved that the prices of these things mean we all have to pay more.
You see, the higher prices of these mostly-exclusive items means the Bank of England is unlikely to lower interest rates on Thursday (December 19, 2024). This means businesses that have outstanding loans of any kind – in other words, most of them – will have to pay more than they might reasonably have expected.
And that means we all pay more, in increased prices for goods and services.
Buy Cruel Britannia in print here. Buy the Cruel Britannia ebook here. Or just click on the image!
Personally, I’m not happy to pay more at Tesco (or wherever) because some toff had a “walloping night out” watching Wicked (or whatever).
Your mileage may vary, depending on whether you can afford the price of petrol.
But it’s how inflation works. Rises in one sector affect the lot.
It also indicates that the business cycle may have reached a peak and be on its way down. Inflation is rising steadily, and wages for many people have also increased unexpectedly, but employment is being choked off because of the extra charges placed on employers by Rachel Reeves’s Budget, and with interest rates high, investment will also be held back.
Expect a recession in the New Year.
Reeves will be expecting one. She’ll have factored it into her expectations when planning the Budget. She’ll be hoping that the pain she inflicts now will result in a better future later.
But a better future for whom?
Vox Political needs your help!
If you want to support this site
(but don’t want to give your money to advertisers)
you can make a one-off donation here:
Be among the first to know what’s going on! Here are the ways to manage it:
1) Register with us by clicking on ‘Subscribe’ (bottom right of the home page). You can then receive notifications of every new article that is posted here.
2) Follow VP on Twitter @VoxPolitical
3) Like the Facebook page at https://www.facebook.com/VoxPolitical/
Join the Vox Political Facebook page.
4) You could even make Vox Political your homepage at http://voxpoliticalonline.com
5) Follow Vox Political writer Mike Sivier on BlueSky
6) Join the MeWe page at https://mewe.com/p-front/voxpolitical
7) Feel free to comment!
And do share with your family and friends – so they don’t miss out!
If you have appreciated this article, don’t forget to share it using the buttons at the bottom of this page. Politics is about everybody – so let’s try to get everybody involved!
Buy Vox Political books so we can continue
fighting for the facts.
Cruel Britannia is available
in either print or eBook format here:
The Livingstone Presumption is available
in either print or eBook format here:
Health Warning: Government! is now available
in either print or eBook format here:
The first collection, Strong Words and Hard Times,
is still available in either print or eBook format here:
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