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Cost of Living Crisis: Income rises to m ...

Cost of Living Crisis: Income rises to match inflation now or watch the economy plummet.

Jun 18, 2022

It is the spending of ordinary folk that supports the economy, so put money in our pockets if you want growth. ‘We can’t afford to give you a pay rise, hard s**t if you can’t afford to live,’ has been the message from the Treasury this week as inflation is set to hit 10% by the end of the year but you’ve no chance in seeing a 10% pay rise. Now this messaging has been prompted by the forthcoming RMT led rail strikes coming later this month, but should be taken in wider context, because the message is we the government know you are suffering from a cost of living crisis right now, but we’re not going to help you. Now what people must understand and I hammer this point home every time its relevant to, is that we in the UK have total control over our own currency. Every time the government want to do something and need money to do so, the treasury instructs the Bank of England to type some numbers into a computer and voila, new money for spending gets created. To avoid runaway inflation caused by just printing money constantly, we have a tax system, where money is taken back out of the economy. Tax doesn’t pay for anything, it effectively destroys money the government has created in order to control inflation. Now its not just government spending that can drive inflation, increasing prices, as we’re seeing does that too. Our incomes are stretching less and less far, but because the Tories are ideological over tax, they believe in a low tax state, they won’t willingly increase tax take, nor take it from where they readily could – from their donors in the form of a wealth tax. They prefer to cut spending instead, hitting all the services we rely on – austerity. As a result, we’re spending less and our spending is what drives the economy, so it’s little wonder there is talk of a recession. The wealthiest in this country have never had it so good, their incomes have risen so much we have more billionaires than ever before, but rather than tax them, fighting inflation rises and putting more money in the pockets of those of us who’s incomes have been haemorrhaging for years so we can strengthen the economy, they simply claim there’s nothing they can do and despite all their protestations on the importance of economic growth, they’re actually doing sod all to promote such growth. The Tories are choosing not to do anything, it is their political choice to leave you struggling and the economy heading south. Well people up and down the country are choosing to do something about that and it’s not just the RMT, there are Cost of Living Crisis demo’s happening everywhere today and there needs to be a fightback because until the Tories themselves feel like their in trouble, they’ll do nothing to help us, but remember that if and when they do U-turn on this, they’ll only be doing so to save themselves. Right now they’re engaging in class warfare and that cannot be a war they win.

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