Price rises
Sir, — The present round of price increases is the inevitable result of the Government’s huge budget deficit. Inflation means an inflation of the money supply, over and above what is justified by increased production. Making more money available to purchase the same quantity of goods and services causes their price
to rise. It is nonsense to talk about inflationary wage demands; wages, along with prices, must rise because of the increased money supply. As Mr Muldoon knows, the way to stop inflation is to stop running budget deficits — and that is something firmly controllable by the Government. All the wageearner can do is try to ensure that his share of the inflated money enables him to buy the same amount of goods as before. Voters need to tell the Government to live within its income. Inflation is not. inevitable: it is deliberate Government policy. — Yours, etc., M. VINEY. April 5, 1979.
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Press, 11 April 1979, Page 24
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153Price rises Press, 11 April 1979, Page 24
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