Bank of England Economist Sparks Controversy with Poverty Comments

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Source: The New York Times
Bank of England Economist Sparks Controversy with Poverty Comments
Photo: The New York Times
TL;DR Summary

The Bank of England's chief economist, Huw Pill, has said that Britons need to accept that they are poorer due to Europe's energy shock, and that the "pass-the-parcel game" of passing on rising costs to employers and customers is generating persistent inflation. The comments have been met with indignation in Britain, which has been grappling with a cost-of-living crisis for the past year, with stubbornly high inflation rates and household energy bills more than double what they were two years ago.

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