In May 1997, Socialist chancellor of the Exchequer Gordon Brown gave the Bank of England operational control of monetary policy – attempting to take Government politics out of interest rate decisions.

And this was a positive decision – made in the best interests of the British people and the British economy…until in our view, Andrew Bailey was appointed Governor of the Bank of England in March 2020.

Since then, we have seen Government debt reach new highs – Sunak (socialism through the back door) wasting hard working family’s money on novelty schemes like “Eat out to Help out” – pandemic protection schemes that were awash will fraud – and now inflation touching 10%

And whilst Britain enters this inflationary cycle – the Bank of England is sitting on its hands…and we rightly ask why.

In the United States – the Federal Reserve Bank – facing the same inflationary pressures – like Britain – awash with tax payer money – with the Globalist “sleepy Joe’s” $1.5 trillion spending spree – following on from the $900 billion Consolidated Appropriations Act in December 2020 – has also been caught sleepwalking but finally reacted last month, raising interest rates to 1.5% – with market analysists expecting a further 0.75% to 1% increase within the next 30-days. (Less than we believe is required to curb inflation – and enable a “softer landing” but at least a start)

Meanwhile Bailey and his team in London – seemingly watch with indecision…allowing the trade union movement to get blamed for requesting higher salaries for their members – as being the inflationary bad guys.

And with each interest rate hike enacted by the Fed – the US Dollar will strengthen on the international exchange rates – against the weakening British pound – making oil prices and the energy market even more expensive – adding even more inflation to our economy – adding further pressure to the cost-of-living crisis.

Brent Oil has DROPPED by 8.9% on WORLD MARKET from March 14th to July 14th

Brent Oil has INCREASED by 1% for BRITISH IMPORTERS from March 14th to July 14th (due to collapse of GBP £ against the USD) 1 USD = GBP 0.77 (14/03/22) to 1 USD = GBP 0.84 (14/07/2022) due to Fed action against inflation by raising interest rates.

Regrettably – the candidates for Conservative leadership seem to lack even a basic understanding of economics – and so this shameful indecision by the Bank of England is allowed to continue – where our citizens who have diligently worked and diligently saved – are seeing their spending power being diminished every day.

God help Britain if this economic mismanagement continues.