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.
how can they sleep at night
ReplyDeleteIf you review the events leading to the Parliamentary Expenses Scandal, you can see very clearly that unless there was a 'scandal' there would have been no reactions whatsoever and everything would have continued as before. Even after the scandal some of the monies paid back by MPs who had made non legitimate claims were given back to the said MPs. There is a political culture leading to abuses. The very same body that is either supporting or opposing austerity measures has no qualms when it comes to raising MP's salaries when ordinary people are being told that there is no money for salary increases and no money to maintain jobs.
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