“Bank of England raises interest rates to 5.25%”

If you beat someone or something for long enough, submission will follow one way or another. One way might be a reluctant shrug and an “OK, you win” The other, anything from serious injury to a knock-out, terminal or otherwise. We and the economy have now had around two serious interest-rate batterings a month since last autumn and the danger is that this one could be a final blow for many. All for the greater good, I’m sure Messrs Bailey, Hunt and Sunak would argue; or, to paraphrase E. Scrooge, ‘perhaps they had better go bust, and thus reduce the surplus business and home-owning population’. As that is what will surely follow, and should, I am afraid, be on the conscience of that particular triumvirate. And as always, it will be the redundant and repossessed who will bear the brunt. Plus ça change.

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