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Tuesday, February 15, 2011

PROGRESSING BACKWARDS

One of the illusions peddled by politicians is that we  making progress and we are all better off than we were in the past, but according to the Consumer Price Index prices have risen by 4 per cent against a 2 per cent rise in wages. "Households face a deepening "income recession" as the cost of living rises far more  quickly than wages, analysts warn today. Official figures released tomorrow are expected to show that inflation is rising at approximately twice the pace of salaries, leading to punishing deterioration in living standards." (Times, 14 February) Progress for the working class is a delusion that should fool no one. RD

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