Older generations will remember the rampant inflation of the 1970s that wrecked savings, triggered waves of strikes for higher pay and a cost of living crisis that ended the Labour Party’s reputation for economic competence for a generation.
Boris Johnson needs to get a grip of the situation before his Conservative government becomes associated with a price rise tsunami that hits hardest many of its most loyal supporters – the aspiring working classes, sensible savers and the elderly living on fixed incomes.
Many politicians and economists appear relaxed about the prospect, believing it is only temporary or that a little bit of inflation will be good for us, whittling away at our massive debts, but once in the system it is very difficult to remove, feeding on itself, creating a spiral of rising prices and wages.
This story is from the December 08, 2021 edition of Daily Express.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 08, 2021 edition of Daily Express.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Clamour grows for Kid Kobbie to be main man
ENGLAND manager Gareth Southgate is facing growing calls to pick Kobbie Mainoo for Euro 2024.
Red-carded Reid is fined for vile rant at official
STEVEN REID escaped with a £5,000 fine and two-game touchline ban, despite the Nottingham Forest coach’s extraordinary foul-mouthed outburst at a referee.
GARETH HAS MUCH TO PONDER
Choosing squad is toughest job of all
'We've not hit the heights of 2017 but it can happen again'
FINAL SURVIVOR MCSHANE IS BACK TO BOOST CASTLEFORD
Friends reunited
FRANKIE DETTORI and John Gosden were reunited at Meydan ahead of Saturday’s Dubai World Cup fixture.
Police review handling of Rayner home sale claims after Tory MP complains
POLICE are looking into how it investigated claims Angela Rayner broke electoral law in a house sale row.
'If assisted dying were an option, he would have wanted it...'
Ex-nurse backs law change after seeing husband suffer
£80k for couple whose Arctic trip was sunk...by the cold
Globe-trotting pensioners win court fight over holiday
First bridge dead named
SHIP CRASH PILOT'S DESPERATE BID TO SAVE LIVES
Children in Gaza playing among '5,000 unexploded bombs' warns British expert
AN ex-Army specialist sent to Gaza to help locate unexploded bombs has called for an immediate ceasefire, saying children are playing among 5,000 devices left in the ruins.