Johnson warns of ‘wage-price spiral’ if pay packets rise with inflation

Boris Johnson warned of a 1970s-style “wage-price spiral” if pay packets increase in line with soaring prices as he set out an extension of the right to buy to housing association tenants. The Prime Minister also announced a “benefits to bricks” scheme on Thursday to allow welfare payments to secure mortgages as he sought to get his embattled premiership back on track.

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