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Britons told to accept they are poorer ...News
The Bank of England has warned against workers and companies driving up inflation by playing “pass the parcel” British households and businesses need to accept that they are worse off and should stop asking for wage increases and pushing prices higher, the Bank of England’s chief economist, Huw Pill, said on Tuesday. According to Pill, “a series of inflationary shocks” generated by the pandemic, the conflict in Ukraine, and crop shortages have sent prices in the UK to a 40-year high. He claimed that in response to surging bills and other rising costs, workers and businesses are attempting to transfer the impact of
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