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UK business minister defends wages stance, says BoE can handle inflation | Malay Mail

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LONDON, Oct 10 — The British government is right to focus on driving up wages, business minister Kwasi Kwarteng said today, expressing confidence in the Bank of England’s ability to curb rising inflation. BoE governor Andrew Bailey has said he is concerned about inflation running above the...

LONDON, Oct 10 — The British government is right to focus on driving up wages, business minister Kwasi Kwarteng said today, expressing confidence in the Bank of England’s ability to curb rising inflation.

“The bank is independent, and will take a view,” he said. “The bank’s principal motive will be to try and curb inflation, I think that they’re going to do a good job of that and we have to make sure that we can contain any rises in the cost of living.” But Kwarteng defended the Conservative government’s plans to transform Britain into a high-wage economy, as set out by Prime Minister Boris Johnson in a speech last week.

 

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