Letters: Bailey and Boris need to talk
[Re: Boris Johnson lashes out at Andrew Bailey: Do not show pay restraint, Feb 5]
Boris Johnson’s vocal disagreement with Andrew Bailey last week was quite a startling development.
The Prime Minister was right to distance himself from the comments made by Bailey, which lacked any empathy for the plight of people trying to make ends meet.
But all the same, it shows a disconnect between Westminster and the City. During a time of such economic pressure, surely it’s not too much to ask that the two institutions are able to communicate effectively with one another.
It’s not a matter of Westminster telling the Bank of England what to do, which of course would breach the distinct roles of each. But when there is considerable economic uncertainty, it is important that there is a reassuring message coming from those at the top. Otherwise it descends into more panic. Just as businesses need reassurance about the future, individuals do too. Instead they have been thrust into a time of huge trepidation, as energy costs skyrocket and a yo-yoing policy of spending and saving is doled out from Boris Johnson.
If they want to steady the economy, they need to steady themselves first.
Mark Tapp