Ah yes, Economics 101: Inflate your way out of debt. Trouble is it hurts everyone, except the money men and the offshore rich, for decades, but it hurts the poorest the most.
However, the Spring Statement is not about that - it is short-term, it is about the now. It gives some things to some, gives nothing to others, and takes away from.... OAPs and those on fixed incomes.
Pensioners, especially - we lost out. Our OAP was set at 3.2% using CPI when inflationary pressures were already in the system, because the TL at 8% was too high. RPI, the system most of us use on a daily basis, said it was 5.3%, so we were already losing out. Then came the five year freeze on personal allowances so if our total pensions rise above that during that time we pay 20% tax on the £1. Then came the recent rises in fuel and energy, 54% on energy, and council tax. So we slip back even more.
Risky Rich Sunhat could have met us half way and upped pensions by 6% instead of 3.2%. We will struggle even more when inflation goes towards 9% in October, but we would have survived. Most of us have already done the hard times since the 50s so we know what to do.
I hope that the grey vote (mostly Cons) send a strong message in May. I also predict that the Red Wall will be back.
Some of you should try living on a fixed income well below NMW / NLW and see how it feels.