{"id":65271,"date":"2022-10-19T07:33:09","date_gmt":"2022-10-19T06:33:09","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=65271"},"modified":"2022-10-19T07:33:09","modified_gmt":"2022-10-19T06:33:09","slug":"the-bank-of-england-has-declared-economic-war-on-the-people-of-the-uk","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2022\/10\/19\/the-bank-of-england-has-declared-economic-war-on-the-people-of-the-uk\/","title":{"rendered":"The Bank of England has declared economic war on the people of the UK"},"content":{"rendered":"

I posted this short thread<\/a> on Twitter last night:<\/p>\n

\"\" \"\"<\/p>\n

I hope my anger, disgust and outright fear for the consequences are apparent in what I wrote.<\/p>\n

There is class warfare going on in our economy right now. The financial elite is very obviously planning to devastate the well-being of the majority in the UK. I cannot explain this policy in any other way. Why else would quantitative tightening, a policy that can only have the goal of increasing the interest rate, be going on otherwise?<\/p>\n

But let's also address that austerity point as well. The government is saying it cannot borrow to pay for pension increases, social care, the MHS or decent education. But apparently, the capacity to sell binds into the market that could fund that does actually exist but is instead to be used to force up interest rates with no social benefits attached.<\/p>\n

This is the Bank of England waging economic warfare on this country. I have no other way to describe it.<\/p>\n

And worse, the failed Tory party is going to sit by and let this happen.<\/p>\n

If Labour says nothing then they too are party to this.<\/p>\n

What is happening in UK politics?<\/p>\n","protected":false},"excerpt":{"rendered":"

I posted this short thread on Twitter last night: I hope my anger, disgust and outright fear for the consequences are apparent in what I
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