As July 4th 2024 approaches, both of the main contenders in the UK General Election are promising cakes and promising that you can eat your cake, and that you will have the same cake after eating it. They will have to put up taxes and borrow ever more and most probably print monies in what has been known as 'quantitative easing'.
The Unions are already making noises and saying that they will request that promises made by Shadow Chancellor Rachel Reeves are delivered. She has already spoken about salary increases in the public sector and this includes the most fundamental services like the NHS, the biggest employer in Europe and possibly the biggest employer in the world.
July 4th, 2024 happens to be Independence Day in the USA, but in Britain it might become Dependence Day if prices get out of control and people end up seeing the buying power of their income reduced. The Covid Pandemic and the energy crise generated by geopolitical decisions kicked in inflation and force the Bank of England to put up interest rates, but in spite of interest rate rises prices paid for basic items of the family basket are high and rising. How much people need to earn to have a roof over their heads? How much do they need to earn to feed themselves properly?
Funny to see on the pages of The Guardian comments about working families and pensioners as if they were part of different species. The reality is that more and more people already retired are returning to work to make ends meet and therefore they are part of working families. Most people could not possibly survive if their sole income was a pension.
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