What would happen if you just gave everyone a massive pay rise?Wage inflation isn't at 5% or anything like it so it's little wonder that people are struggling to make ends meet. Just below 5% might be heading in the right direction compared to 7% or 8% but it's still far too high for it not to heavily impact on peoples' lives - particularly the less well off.
What would happen if you just gave everyone a massive pay rise?
Yes, massive inflation to pay for it.
Inflation is falling and by Q3 interest rates should also start falling as we end this cycle of high inflation and high interest rates and inflation itself down to 2% by early 2025.
Economics 101.You're perpetuating the myth that wage increases cause the inflation in the first place. Inflation has outstripped wages for quite some time now.
Wage rises are driving inflation? Don’t swallow this dangerous rightwing myth | Owen Jones
All the evidence is there: corporate greed is the culprit, but policymakers daren’t take on big business, says Guardian columnist Owen Joneswww.theguardian.com
In fact I think one of the Irish banks had a review recently and it showed that wage increases don't directly cause the inflation that we've seen.
But hey, you keep drinking the Right Wing Kool Aid Statty
Wage rises are driving inflation? Don’t swallow this dangerous rightwing myth | Owen Jones
All the evidence is there: corporate greed is the culprit, but policymakers daren’t take on big business, says Guardian columnist Owen Joneswww.theguardian.com
Owen has just left the Labour party as they are not left-wing nuttters enough for him and his Jeremy Corbyn worshipping unelectable cult.Do you know Owen Jones
Just in case you don't
He is one of the most famous left wing activists in the UK.
So naturally that article will be biased.
How dare you!Went for a walk today around the commercial park where I work. Bought a nice chilled can of Fanta from the kiosk and paid for it along with the 15 cent deposit. Heavens opened before I got back to the office. Drenched to the skin. Can went in the bin. I would have had to bring that can home on the bus with me from work, all the while insuring it doesn’t get bent out of shape to claim back 15cent. Just not practical I’m afraid.
Went for a walk today around the commercial park where I work. Bought a nice chilled can of Fanta from the kiosk and paid for it along with the 15 cent deposit. Heavens opened before I got back to the office. Drenched to the skin. Can went in the bin. I would have had to bring that can home on the bus with me from work, all the while insuring it doesn’t get bent out of shape to claim back 15cent. Just not practical I’m afraid.
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