Pill (BOE economist) is advocating for wage price restraints, which is what the parent observed.
The parent then said it is in effect calling for price controls on labor, which is true.
Pill is then recorded as saying wages do contribute to inflation:
> "He said that firms and workers are in a “pass the parcel game” that’s causing more persistent price pressures, contributing to the UK’s main inflation rate remaining stuck in double digits."
The final parent comment captures a very common line in corporate media messaging: which is that wages always need to be suppressed lest inflation rear its head, but corporate profits never should because that is market distortion and not related to inflation.
The parent then said it is in effect calling for price controls on labor, which is true.
Pill is then recorded as saying wages do contribute to inflation:
> "He said that firms and workers are in a “pass the parcel game” that’s causing more persistent price pressures, contributing to the UK’s main inflation rate remaining stuck in double digits."
The final parent comment captures a very common line in corporate media messaging: which is that wages always need to be suppressed lest inflation rear its head, but corporate profits never should because that is market distortion and not related to inflation.