The UK government is stepping up efforts to tame soaring inflation by threatening both a crackdown on corporate profiteering and another round of deep real…
After the rate decision, BOE Governor Andrew Bailey called for workers to rein in pay demands and said businesses must stop trying to raise profit margins. But the bank has previously been relaxed on profiteering, saying there is little evidence that it is widespread, while the impact of public sector wages on inflation is dwarfed by pay increases seen in the private sector.What is clear is that the Sunak’s government is under fierce political pressure over inflation.
Patrick Roach, general secretary of the NASUWT teachers union, said the government risked “demonstrating even more contempt for the teaching profession,” having signaled the proposals would be adopted. Labour has labeled it a “Tory mortgage penalty” and polls show that accusations of economic mismanagement by the Conservative government are cutting through with voters. Sunak is at risk of missing his pledges to halve inflation, grow output and bring debt down this year.
France Dernières Nouvelles, France Actualités
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