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The inflation figures the government uses are a lie, I saw some estimates that real inflation last year in London was of the order of 8 - 9% and that was before council tax, gas prices, petrol prices and food prices all had inflation in the region of 8 - 15 %. Let alone the price of mortgages.

These are all top dollar items, they're not the optional penny-hapenny things. People are getting poorer, even with wage rises. I used to get 2 - 3 % at the BBC and each and every year of my employment I could afford less and less. It's getting worse and NuLab and NuCon are in a pact to screw the overwhelming majority of hte population into the ground.

It's about time somebody stood up for working people, even the totemic hard-working families that Brown is always wittering on about. Summer of discontent I say, remind those knobless plastic NuLab careerist wankers that they work for us, not just the City.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Mon May 12th, 2008 at 11:57:16 AM EST
From the RMT website:

The ballot of signalling and other operational staff follows the rejection of a pay-and-conditions offer that holds the prospect of a real-terms cut in living standards.

"We told the company quite clearly that the second-year element of their pay offer to operational staff, of RPI plus 0.5 per cent, would not protect our members against costs that are rising way ahead of the official inflation rate," Bob Crow said.

If the Retail Price Index is so clearly behind 'real' inflation, doesn't it benefit employers? They can offer 'inflation-busting' pay deals to their employees, and appear in a good light for doing so, while actually slowly impoverishing their workers. Who controls or defines the RPI, and why is it so out of whack?

Member of the Anti-Fabulousness League since 1987.

by Ephemera on Mon May 12th, 2008 at 12:43:13 PM EST
[ Parent ]
The government, or rather the Bank of England (in collusion with the macro-economic objectives of govt economic policy) sets the RPI.

It has long been a fix, considering that the price of mortgages is specifically excluded. However, it also ignores fuel prices, house prices, community charges, all the items that are significant parts of the average persons monthly bills, all of which are increasing considerably above the official RPI.

so the RPI is a useless indicator of the change in  people's financial needs. But, as you say, employers, including the govt, like it cos it keeps their costs down.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Mon May 12th, 2008 at 12:55:25 PM EST
[ Parent ]

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