Last week the Guardian noted that Rish Sunak was clearly wishing to deliver an austerity budget. As they noted this was a choice:
Something has to give: either our already austerity-hit public services, or Mr Sunak’s budget plans. For the sake of the country, the chancellor should revise his plans. For the sake of his government, Mr Johnson may end up forcing him to do so.
On Friday the FT reported that he had asked the supposedly independent Office for Budget Responsibility to use out of date data to support their budget projections, which would help him achieve this goal. The desire that dogma win over reality is very clearly overwhelming.
This morning we get more evidence that dogma rules. The Governor of the Bank of England has, according to the Guardian and many others, said that the Bank must be willing to do something about inflation, which might hit 4% by Christmas. This is despite the fact that he admitted:
Monetary policy cannot solve supply-side problems – but it will have to act and must do so if we see a risk, particularly to medium-term inflation and to medium-term inflation expectations.
In other words, there is nothing that the Bank can do to stop the inflation that is going to happen, but it thinks it must do something anyway in case people think inflation might continue - although there is no evidence that anyone does.
So a dogmatic increase in interest rates is required to cut the supposed scope for government spending and to impose a bigger cost of living crisis on ordinary people.
I have already noted this morning that we are living in a Covid crisis made by our politicians.
We know we live in a supply chain crisis exacerbated by the political choices of those same people imposed as a result of the hard Brexit we never needed.
And now the government are intent on creating an economic crisis for millions even though none is required.
Please don't ask me to not be angry about that. I am and I will be, because none of this is necessary.
And what also annoys me is just how hopeless Labour still is at saying anything about this. And that's also very annoying, to put it mildly.