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A transfer of wealth from labour to capital unparalleled since the 1930s
It’s the steady erosion of collective bargaining over a number of years that has led workers’ pay to fall, while employers’ profits continue to rise, says LORD JOHN HENDY QC in the first of a two-part article series
Hunger march

THIS week the Office for National Statistics (ONS) reports that the rate of inflation measured by the consumer prices index rose by 10.1 per cent in the 12 months to July 2022, up from 9.4 per cent in June. 

The Bank of England expects inflation to rise to “just over 13 per cent” in the last quarter of 2022. 

The ONS confirms what we all know: the principal contribution to inflation in July came from the cost of electricity, gas and other fuels, and food prices.

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