Should Britain raise interest rates to contain inflation ?

Question

http://uk.reuters.com/article/businessNews/idUKLAL00200020080819

Answer 1

No NO  No. Last time they raised interest rates three times in a row when inflation was low now surprise surprise its shot up high. High rates means repossessions, means no food for family etc. How can you think like this?

Answer 2

NO

Answer 3

No.

What we should d is apply more tax to the high earners.

Apply large windfall taxes to the service industries.

Apply large taxes to shareholders and investors who are reaping the benefits

Increase the taxes for OIl and Gas industries profits

Increase the tax on Non-Doms

Lower the inheritance tax threshold

Increase stamp duty on all house sales over 300k

Charge all foreign incomers a heafty fee to settle in the Uk.

Stop all benefit payments and make every claimant justify their right to recieve it.

Introuce the ID card system

Stop all immigration and thoroughly examine those already here before restarting it. Immediately deport any illegal immigrants and those who are harbouring them.

Stop remmision for prisoners

Make all drugs illegal and the use of imprisonable

Stop politicians having second incomes, their MP wages should be their only income.

Levy a large tax on air travel

Stop spending so much money within the M25

Construct a 3 metre wall from coast to coast just above Nottingham

Remove East Enders from the TV

See! it's easy to solve this country's problems, lets leave the interest rates alone eh!

Answer 4

No, there has been to much of that going on in the past and look at where it has got us, if only we had a Chancellor in the last decade with a basic grasp of Mathematics !! :)

Answer 5

Yes, interest rates will have to be raised. You cannot run a country on a credit binge or else your currency will end up being worth zilch in international terms. People don't appreciate this. They just want cheap loans and expensive houses. No point in having a house worth lots of pounds if the pound is worth nothing.

Answer 6

Why don't we just give more benefits to the scrounging poor and rob working class?

Or just give more expenses to MPs, so that they can have 2 homes that we pay for, as well as their food, petrol, council tax, TV licence etc.

I bet MPs don't even pay congestion charge.

Answer 7

No. At this point in the economic cycle it makes more sense to reduce rates slightly, to ease credit supplies and help companies survive the current downturn.  Inflation at 4.4% is not high enough to be a significant problem.