Tories Devalue the Country
Several commentators have pointed to the fact that if you're massively in debt, then high inflation can be a good thing. Over time the value of that debt is going to reduce and become more affordable. If you're a Government that owes billions, then there is some serious benefit in doing that, although it does mean that the value of the ordinary person's savings is going to decrease. A small price to pay? Probably not if you're a pensioner.
What people seem to be talking less about is how high inflation is also a cunning additional method to decrease the budgets of Government departments. All that you have to do is ensure that whatever mechanism you use to measure the overall cost is skewed in your favour. In the case of the NHS and according to Cathy Newman, the GDP deflator that's used to calculate future spending doesn't actually look at the things that the NHS buys. It's pointless basing your spending decisions on the price of bread if you're buying multi-million pound x-ray machines. According to John Appleby:
“Leaving [local authority social care] out, the real change in NHS planned spend overall is -1.1 per cent”
So, is this just common or garden Government incompetence or planned erosion of the NHS (and any other social safety net) by David Cameron and his party (with their cling-on liberal allies)?