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.
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.