Tuesday, 10 December 2013
You are all in it together. MPs give themselves 11% salary rise
Recently, the new Head of the Bank of England spoke about preventing a bubble created by a new wave of mortgages and remortgages that could fuel an unsustainable rising spiral in the housing market and this comes as a contradiction regarding measures implemented to help people acquire new housing units.
Some statistics show that the so called recovery is driven by a massive reduction of savings and that as soon as savings reach dangerous low levels spending would come a halt erasing any hopes of a sustainable economic recovery in a market that is barely surviving faced with depression.
In this context, any two digit salary increases for those who have already access to a wide range of privileges is not only excessive but also extremely dangerous.