As you might expect, the announcement of something, certainly much better than nothing, had a good effect on shares, as well as the chances of many of making it past Christmas and through the winter. The hard-hearted markets aren’t cheered by that, however, but by the effect that the price cap should have, albeit artificially, on inflation. Oil and gas prices are part of the basket of stuff that makes up the inflation measures and have had a big role to play in pushing them to record levels. If this ‘caps’ inflation, maybe interest rates won’t also continue to soar upwards, as the Bank of England continues its (arguably mad in current circumstances) strategy of using them to keep prices and wages down. And speaking of wages down, there are tax cuts to come! Always something to look forward to.
“The working-from-home illusion fades”
Are workers working from home more or less productive than those catching the 7.02am to London Bridge every day? ‘Probably sitting at home in their bleedin’ jim-jams’, said someone recently of a less-than-helpful call centre employee, the assumption being that, were they surrounded by colleagues and with a manager cracking the whip, he or she would have sorted his energy bill more efficiently.
