Meanwhile the Government has assured us that legislation will be brought in to deal with the problem of the steeply higher cost of rented accommodation. This intervention will give the market ‘certainty’ . And when it doesn’t work we imagine that more legislation and further interventions will be proposed to give the market more and more certainty. But please don’t confuse this with rent control.
We are similarly assured the problem of low wages will be addressed by the a low wages commission . Yes dear reader we are now in the process of developing a ‘Wage Policy’ and if we see the return of inflation we will see a ‘wage restraint policy’ combined paradoxically ever higher minimum wages. Naturally we want to make sure that employment doesn’t start growing to wildly and young folk enjoy a lengthy stay on the dole.
It is 1973 after all.