Telegraph
"Whatever its colour, the next government will have to take some extraordinarily unpopular decisions. Attempting to inflate our way out of the problem, the traditional fall-back of Labour governments, offers no kind of solution. Inflation is socially divisive, because it destroys savings alongside debt. The profligate are rewarded, and the prudent punished. To the extent that wages lag behind prices, and disposable incomes become depressed, it is tantamount to higher taxation anyway. What's more, it raises interest rates for years to come."
No comments:
Post a Comment