Paying price for bank hypocrisy

INFLATION is back with a vengeance. With costs soaring the outlook is grim, especially for low wage earners who spend most of their income on heating and food, the very areas in which price increases are heftiest.

Tiree islander Karl Hughes had to sell his home as a result of sky-high diesel prices at his local garage.

He isn’t the only one suffering. We all are. Or are we?

Tory toff Jacob Rees-Mogg boasts that his city friends are “jogging along” amid reports that bonuses in the City are back at the levels they were before the 2008 banking crisis, for which no one in the financial sector was held responsible.

Boris Johnson wails that he cannot be held responsible for the state of the economy either but that is another blatant twist of the truth.

Inflation in Britain is higher than in European countries because we are paying the cost of Brexit, which has been a disaster for the economy and is predicted to wipe an average £470 of workers’ wages every year of this decade.

Why should key workers shoulder impact of the cost-of-living crisis?

At the same time Johnson wants to loosen controls on bankers’ bonuses.

This is a prime minister that thinks first and foremost about his fat cat mates at the expense of working people.