To defend Puerto Rico’s right to peace is to defend Venezuela’s right to exist, argues MICHELLE ELLNER
Why Bank of England interest rate rises should be opposed
Higher interest rates, at a time when more and more people are being forced to borrow to pay for essentials, would be disastrous and risk a damaging recession, warns JAMES MEADWAY
THE Bank of England is expected to raise its interest rate to the highest level since 2009 tomorrow.
Its monetary policy committee (MPC), which sets the bank’s interest rate, will do this in the belief that it is necessary to bring inflation back down to more manageable levels.
They will be wrong to do so. The most likely outcome from rising interest rates is that any impact on inflation will be minimal, but by making borrowing more expensive the risk of a recession will be much increased. It is based on a serious misunderstanding of the kind of inflation we face today.
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In the first of two articles, ROBERT GRIFFITHS argues that despite a parliamentary majority, Labour’s timid Budget fails to seize a historic opportunity and lacks the ambition needed to address Britain’s deep social and economic crises



