Action on binge drinking was the political theme of the day. Both parties put own statements including this from Chris Grayling.
Inflation is back and it will make budget control a lot harder. Iain Martin at the Wall Street Journal worries that this is going to make public sector pay control a lot trickier:
"Imagine you are the head of a team of trade union negotiators anywhere in Britain right now. You will just have clocked that inflation is 2.9% and rounded it up mentally to 3%... Millions of workers who accepted pay freezes or small raises last year will be less minded to agree to a repeat than they would be if inflation was stuck at, say, 1%. So, sentiment shifts, people start to grumble and unions put in claims of 4% in the hope they can then settle at or above the 3% 'going-rate.'"George Osborne MP, the Shadow Chancellor of the Exchequer and Mr. Boris Johnson, Mayor of London, issued a joint attack on bank bonus culture. At a lunch for London and European heads of the global banking sector the Mayor of London said that he was
"shocked and baffled by the persistence of this excessive bonus culture at a time when millions of Londoners and thousands of businesses are struggling."The Shadow Chancellor added:
"Boris and I also present a united front when we say: large cash bonuses are unacceptable at this difficult time. Bankers need to show they understand that we are all in this together."Acknowledgement: ConservativeHome | ToryDiary| 19/01/10