Inflation, ah yes I remember it well..
So prices are rising by their fastest in 30 years, energy prices, staff shortages and supply chain problems have worked their way through into higher prices on the High Street.
The PM’s answer is that we all start paying ourselves more and thus creating a high wage economy. Forgetting that you need to make more to pay yourself more.
And so the strange circle of politics and economics completes a loop.
There is now a Conservative PM who thinks the answer to price rises is ever higher wages, making him the Arthur Scargill of British politics.
I imagine that next we will have Keir Starmer demanding controls on money supply to force down prices.
Restricting money supply by printing fewer bank notes used to be a policy, I remember the 6 o’clock news leading on it month after month. But somehow this genius level policy is no longer mentioned in polite society.
Maybe because it was always tosh and what squeezed out inflation was a huge recession, tax rises, massive hikes in interest rates, an over valued currency and the devastation of much of British industry.
Maybe we had just better hope the Bank of England can fiddle with the base rate a bit and wait for the oil price to fall.
It’s not much of a policy but it beats the alternatives.
Economics, trade and Brexit, not necessarily in that order but the dog always comes first.