Douglas Carswell's Blog

Rising prices hit older folk hardest

In bringing our public finances under control, we are told that the government is boldly doing something that no post-war government has ever achieved with a radical deficit cutting strategy.

Maybe.  Although I can't help noticing that public spending and borrowing are in fact higher now than they were under the previous administration. 

Could it be that the government - and those same Treasury officials that helped get us into this mess - are actually doing what all too many post-war governments have done in this situation; use inflation to erode HMG's debts.

The Bank of England is 150 percent over its inflation target.  Yet still they talk of printing yet more money .....

As a consequence, many of my constituents face rapidly rising prices.  Inflation is a form of taxation on the hard working, those on lower incomes and the elderly.  It drains wealth away from those who try to do the right thing and save.

We need a return to sound money - and not allow the state to devalue our currency to help it pay for living beyond its means.

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