Re: Tons of inflation
There's also the fact that when Labour gave the BoE independence - one of the few(*) good ideas they managed to implement - they tied them to the wrong inflation measure: RPIX, i.e. Retail Price Index Excluding Inflation. Which, in turn, led to interest rates being artificially low during the boom years, fueling house price inflation.
(*) the other one was FOI, and that didn't go far enough. Plus Tony is on record as regretting FOI. As you would, with an illegal war and thousands of deaths on your conscience. You'd regret giving citizens a little bit of insight into the government they pay for.
Biting the hand that feeds IT
