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Boris Johnson warns of ‘wage-price spiral’ if workers demand higher pay

Boris Johnson has raised the spectre of a 1970s-style “wage-price spiral” that could force the Bank of England to push up interest rates dramatically if workers demand to be compensated for rocketing prices.

Boris Johnson warns of ‘wage-price spiral’ if workers demand higher pay
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Instead the prime minister promised a return to lowering taxes, cutting government spending and slashing regulation, after a renewed push by backbench Conservative MPs.

Read more at The Guardian

 

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