RE: Your country needs you!28 Mar 2023 15:15
nc
Increasing incomes a great deal at a time of high inflation is not the way to curb inflation.
Plenty of jobs available currently - if that were to still be the case in the coming years with inflation hopefully back under control, incomes should then at least keep pace with inflation.
Most pension schemes in the private sector have an upper limit on yearly increases, which has meant large real term cuts in pension payments.
Inflation needed to be stamped on as quickly as possible, which is why I have said that the MPC increased rates too slowly at the start on the cycle.