Bank boss’s price warning is tosh!
FAMILIES are facing a food price apocalypse, says the Bank of England governor Andrew Bailey (Mail). What utter tosh! Yes, there has been an increase in the cost of food, but this sort of emotional rhetoric doesn’t help. We all know that after two years of stagnation, inflation was bound to cause problems. Mr Bailey should control inflation by raising interest rates to squeeze the economy. At the same time, why doesn’t the Chancellor increase the level at which you start to pay income tax to £20,000 a year? That would help millions on low incomes cope with the cost of living crisis. But instead, MPs have been given a £2,200 a year pay hike while pensioners get a £20-a-month increase.
JOHN HARRISON, Harrogate, n. Yorks.
THE governor of the Bank of England calls for wage restraint and says we shouldn’t ask for a pay increase. That doesn’t appear to include MPs.
JOHN HATTON, Hove, E. Sussex.
THE governor of the Bank of England says he is helpless over soaring food prices. But what about the part he and his predecessors have played in fuelling rampant house price inflation by keeping interest rates at rock bottom for a decade?
PETER LAURIE, Colchester, Essex.
AFTER the Bank of England kept interest rates at rock bottom for too long and printed money like confetti, it says it’s helpless to stop inflation. Inflation has been allowed to soar in an effort to magic away the country’s debts. This will prove to be a cold and hungry financial experiment for many.
B. BETTRIDGE, address supplied.
THE Bank of England is a reactionary organisation that can’t predict anything. It keeps putting up interest rates in a bid to halt inflation. How will more interest rate rises boost the economy or encourage people to spend?
IAN MORRIS, Watford, Herts.
HOW can we expect the wealthy Chancellor and governor of the Bank of England to have any empathy for those short of money?
PETER RICKABY, Selby, n. Yorks.
HOPELESS, lacking leadership and bereft of any ideas or solutions — not what is needed in a Bank of England governor during a financial crisis.
R. BISHOP, Billingshurst, W. Sussex.
AT A pivotal point in our country’s finances, Andrew Bailey is clearly not the man to head an institution so crucial to our future prosperity. How can he encourage his staff to spend four days a week working from home? He is out of touch with reality, has shown no leadership and doesn’t have the faintest understanding of the harsh reality of life for the average person.
GORDON MORRIS, Southwick, Wilts.