Bank Of England Attacks Green Policies
The Telegraph is reporting the comments of Mervyn King, the governor of the Bank of England at the launch of the Bank’s quarterly inflation report. Environmental policies it seems are an “own-goal”.
Sir Mervyn blamed the Government for the overshoot, claiming that the Coalition had scored an “own goal” by damaging household incomes with a range of environmental and education policies that have pushed up energy bills and tuition fees.
He said: “It’s a bit of an own goal as it looks as if inflation is worse without any change in the underlying behaviour of the economy. Prices charged by utilities – to pay for green charges, green policies – are pushing up administered prices in a way that [is] … self inflicted in terms of damage done to real take home pay.”
Strangely, his remarks don’t seem to have made it to the BBC’s account of events.