Bank of England Economist Sparks Controversy with 'Accept You Are Poorer' Remark
TL;DR
The Bank of England's chief economist, Huw Pill, has sparked backlash after saying people need to accept they are poorer otherwise prices will keep soaring. Small businesses and unions have hit back at his comments, saying they are "out of touch" and that firms have been left with no choice but to pass on the "huge increases they have seen for energy and input costs" to customers. UK inflation hit 10.1% in the year to March, and part of the Bank of England's role is to try to keep inflation at its target rate of 2%.
- Bank of England: 'Accept' you are poorer remark sparks backlash BBC
- Bank of England's Huw Pill 'INSULTING people' with 'ludicrous' poverty comments GBNews
- Bank of England economist says people need to accept they are poorer BBC
- UK Inflation: BOE's Chief Economist Fails Find the Right Words Bloomberg
- Brits need to accept they are now poorer, Bank of England chief economist says CNBC
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