Complete and utter bastards.
They cheerfully excluded house prices from CPI when they were rising, which kept nominal inflation low, which allowed them to keep interest rates low, which fed through into higher prices etc. etc. all to create the 'feelgood factor'. Or total misery for first time buyers, depending on your point of view.
Now that house prices are on the way down, they want to include them again to repeat the trick on the way down.
For more vitriol along these lines, see HousePrice Crash.
A grim document
8 hours ago
3 comments:
no mention of just switching back to rpix - thought not.
Hands up those in government who want to admit that inflation is higher than interest rates.
Odd on reflection. We have libor and and we have rpix - perfectly good measures ignored for purely political reasons.
This made me smile. The amount of their deviousness, cynicism and cunning knows no bounds, but part of me admires such skill, even though its being used to screw us all.
A brief history check. This is a trick stolen straight off Thatcher's govt. Is there any govt. that won't try to cook the books?
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