{"id":87361,"date":"2025-11-07T07:07:14","date_gmt":"2025-11-07T07:07:14","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=87361"},"modified":"2025-11-07T07:07:14","modified_gmt":"2025-11-07T07:07:14","slug":"the-oppression-goes-on","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2025\/11\/07\/the-oppression-goes-on\/","title":{"rendered":"The oppression goes on"},"content":{"rendered":"

This is from the Bank of England statement<\/a> on the interest rate change decision made yesterday:<\/p>\n

At its meeting ending on 5 November 2025, the Monetary Policy Committee voted by a majority of 5\u20134 to maintain Bank Rate at 4%. Four members voted to reduce Bank Rate by 0.25 percentage points, to 3.75%.<\/p><\/blockquote>\n

Critically, they followed that statement with this:<\/p>\n

CPI inflation is judged to have peaked. Progress on underlying disinflation continues, supported by the still restrictive stance of monetary policy. This is reflected in an easing of pay growth and services price inflation. Underlying disinflation is being underpinned by subdued economic growth and building slack in the labour market.<\/p><\/blockquote>\n

Look at that last sentence: economic\u00a0 and labour market suppression at the cost to most people in the UK is being used to beat inflation. We are paying the price.<\/p>\n

So, what is not mentioned? That's the fact that the excessive interest rates heavily promoted by the Bank of England are, of course, rewarding the City and the wealthy. Oddly, that didn't make it into the press release. It would, of course, be indecent to mention that the Bank of England is structurally supporting growing inequality and economic precarity in the UK.<\/p>\n

And so yesterday, the oppression went on.<\/p>\n

Why is anyone surprised in that case that Farage is still on the march?<\/p>\n","protected":false},"excerpt":{"rendered":"

This is from the Bank of England statement on the interest rate change decision made yesterday: At its meeting ending on 5 November 2025, the
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