Tuesday, January 03, 2006

Price rises


Depressed by Council Tax bill?

After reading this you might wish to ring the Samaritans!

Following hot on the heels of yesterday's news of impending increases in Council Tax bills comes further eye-watering revelations of more price rises in the pipeline. It seems that pressure will be put upon the Retail Price Index and additional pressures on employers as workers bargain for inflation busting pay rises, and who can blame them?

If Chancellor Brown maintains a tight grip on the nation's economy whilst stealthily increasing his borrowing, then there will be fears, as Retail Price Inflation rises, that the Bank of England will be tempted to increase interest rates (their next meeting is on 12th. January). The Chancellor's, already flawed, growth estimates will take another battering, and by the time that Prime Minister Blair is ready to hand over the reigns of office we could be facing a severe economic downturn.

The current round of price increases could be the forerunner of worse to come if wage inflation starts to grow, and if we are to allay fears of an economic depression, then politicians at national and local level need to realise NOW that we are an over-taxed nation. By taking more and more of our income they will help to substantially reduce our spending power, and as usual, the people at the bottom end of the pile, the wageless and the low paid, will suffer the most.

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Curly
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