This is the position of one Huw Pill, the top economist of the Bank of England. The former Goldman Sachs banker, who has a £1.5 million home and an annual salary of £180,000, is arguing that the desire to combat increasing costs with increases to wages is not realistic. At a time when the likes of Nestlé, PepsiCo and McDonald’s are reporting boosted sales due to higher prices, and during a time where energy companies are making record-breaking profits, is it reasonable to declare the desire to be paid fairly is unacceptable, as Mr Pill is doing?
I wrote about this quite recently. Wages do not drive inflation. That’s an excuse by these companies raking in huge profits, whilst people go hungry. To suggest there’s no means to pay people a fair, living wage is a joke. The ignorant among us might make nonsensical arguments to the contrary; I have no time for the people who have become willing corporate sheep. We are being fleeced, and in the UK we have the added folly of Brexit to contribute to our woes.
Instead of accepting that we need to be poorer, how about corporations pay their fair share of tax, how about a general wealth tax, and how about a government that’s prepare to stand up to the greed and cold cruelty of heartless corporations?