Mjb@feddit.uktoUnited Kingdom@feddit.uk•Secret email from Severn Trent water boss to rivals: fend off nationalisation
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2 years agobut ones that also have a special duty to take a long-term view.”
Nice of them to admit they don’t currently care about anything but the short term. Changing the name won’t change their outlook, get these utility monopolies back into government control.
I disagree quite strongly.
Economies limping along at ~1% GDP growth per year and little or no GDP per capita growth can’t handle larger base rates for long. It’s a self-correcting cycle - if base rates remain elevated for too long discretionary spending will collapse and many, many businesses/loans/credit with it.
Rishi promised to half inflation not because he’s a financial genius with a secret trick, but because he knows two things: 1) what I said above, 2) inflation is often given as a YoY measure, so by December 2023 we’re measuring inflation above the 10% inflation of December last year, and the country can’t afford 10% inflation per year for long either.