Bank of England economist says people in the UK 'need to accept' they are now poorer | 5 News

► We know that things are difficult financially right now... food prices are up, energy bills are high.

But according to one of the Bank of England's top economists, people in the UK ''need to accept'' they're now poorer.


► About 5 News: We bring you the stories that matter to you, from around the world and across the UK.

🎥 We post daily playlists with the biggest news of the day, interviews, special reports and investigations.

📺 Catch us on TV on Channel 5 every weekday 5-6pm

📱 Get in touch with us on WhatsApp at [phone]

Our flagship, hour-long programme at 5pm is watched on Channel 5 by up to a million viewers, with regular news updates throughout the day.

ITN changed the TV news landscape when it launched 5 News in 1997, producing Five News for nine years before winning the contract to supply news to Channel 5 again from 2012.

[jodycarter]

When a full time wage doesn't cover the cost of living and you need a government top up, then something is very wrong.

[Kent]

She said it, "rich people telling poor people to shut up!"
They're ok with price gouging because it doesn't affect them.

[luxmaster]

its a lot easier to manage people when they're all confused and blaming each other..

[Rina-gtnuke]

He looks like he is living the best time of his life.

[billijomaynard]

Funny how he has the guts to say such a thing, the question should be when do all the banks in the UK intend to pay back the billions of quid they owe the UK taxpayers for the massive handout they were given in 2008 that contributed in starting this whole insane debacle that is known as the UK economy. Surely all the banking higher ups can easily afford massive salary pay cut from their 6 and 7 figure salaries and give up their yearly bonuses to pay back the taxpayers what was stolen from them.

[micheladerry]

the problem is theres something very wrong in this society where they say people to accept the fact theyre poorer because others are richer on their money

[stevenbowman]

He is on £190, 000, like its a problem for him ?

[darrenelkins]

What makes it worse is that the economic situation has been manufactured

[freetammi]

It’s not a matter of acceptance. If he can’t afford heating and food and going cold in the winter and getting sick 6 times a year due to working 7 days a week or taking on 2 jobs now, or mentally breaking down, where is the option to accept? People going into debt to warm their children or feed them basic food (not even luxury food), there is no room to choose accept or not accept.

[frugalitystartsathome]

We Brits have a word for folk like him, very luckily (because Gawd knows there’s nothing about him to set him apart from the masses) earning almost two hundred grand a year whilst telling others less fortunate to “accept” their station in life. The word is “tosser” and we use it on a regular basis to refer to eejits who believe they know where the rest of us belong in life…

[JustMeTalking]

Problem is, all the poor people didn't die in the Pandemic as they were supposed to.

Now look what's happened...

[janeprepper]

We "ALL" need to accept we're poor, and the Government gives ZERO f@#$😮

[Jamie-nteh]

Its not alright when energy and water companies are making record profits!

[lisaloves]

Just like Klaus Schwab and Bill Gates telling people to eat bugs for the environment while they fly around the world in private jets, same vibe!

[BlueCollar]

It’s the same thing in the United States as well. More and more people are turning to food banks and church services to help with their food and if those weren’t around those people would not have food to eat. Capitalism is so broken and needs an overhaul.

[stevenhenry]

Corporate greed is the biggest driver of inflation.

[MinkieWinkle]

People demanding higher wages is symptom of inflation, not the cause of it. Inflation, always has and always will be due to irresponsible government spending/ using the money printers.

All the inflation we are all going through is a direct result of the irresponsible spending over the last 2 years.


You can not print hundreds of billions and not devalue the money.

[scottdavis]

That's what it was all about. They want people to work for less. Like indentured or full-on slavery.

[carltaylor]

This has to end. The inequality between rich and poor is greater every year. The corporations are ripping everyone off with their huge profits and none of the rich are paying their share of the taxes. Meanwhile the poor are going hungry every day and/or dying waiting in hospital queues. Is this what we work for?

[sullivan]

What he means is that people need to accept that the bankers have stolen a significant part of their wealth through quantitative easing.