The Bank of England expects the price inflation peak to be high, but short-lived: however if it feeds into wage inflation it could seriously undermine both national debt servicing and the property market: that's why the Government appears to be adopting a tight fiscal stance and announcing a large reduction in the civil service. Carefully targeted support with the swiftly rising cost of living is urgently needed for those most in need and, if the Government can't or won't respond, it could be enabled through the voluntary sector: with Government acting as catalyst. However this is a role to which they're not currently accustomed. Background music: 'Everything has a Beginning' by Joel Cummins.

Published: Mon 16 May 2022