Letters: The Bank of England is losing credibility under Governor Andrew Bailey
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SIR – Andrew Bailey, the Governor of the Bank of England, has said that wages are too high to hit inflation targets (report, February 2). Once again, Mr Bailey shows scant regard for cause and effect, basic economics or natural human behaviour.
His bank has sole responsibility for keeping inflation under control. Its agreed target is 2 per cent. In 2022 and 2023, inflation rose to 11 per cent, more than five times the responsible organisation’s target, and he did little to bring it under control.
The hardly surprising result was that workers demanded wage rises that at least matched inflation. Mr Bailey now seeks to blame high wages for his failure to bring inflation under control, but it is this failure that has caused the inexorable rise in wages and consumer prices. He needs to take control of the situation, or step aside and let someone with a sounder grasp of logic and economics take over.
Christopher Wilton
Petersfield, Hampshire
SIR – We have been told that water bills set to rise above the rate of inflation in April. It seems that our disgraceful water companies are just the latest to jump on the bandwagon of “everyone else is hiking up their prices so we may as well do the same”.
Last time I checked, the cost of rain hadn’t moved in line with inflation indices.
Ross Ellens
Stony Stratford, Buckinghamshire
Brexit benefits
SIR – Daniel Hannan is spot on (“If Government fails to seize the benefits of Brexit, the Blob will drag us back into the bloc”, Comment, January 28): ministerial timidity and Blob obstruction have prevented us from taking full advantage of the opportunities presented by Brexit.
When we voted for Brexit, we did so conscious of the downsides, but enthusiastic about the possible upsides. It has been puzzling that we have taken little advantage of this potential for trade and deregulation.
Mr Hannan’s mention of our importation of tomatoes from Morocco is fascinating. In far too many cases, we have limited ourselves to replicating the terms of previous deals by other countries with the EU – bizarrely counting those replications as new.
There are vast opportunities in other parts of the world, particularly in Latin America. The EU has no deal with Mercosur, the South American trade bloc comprising Argentina, Brazil, Paraguay and Uruguay (not to mention its associate countries Bolivia, Chile, Colombia, Ecuador, Guyana, Peru, and Suriname) due to protectionism. We have the opportunity for a massive deal. When asked, however, our negotiators plead higher priorities elsewhere.
Jacques Arnold
Former chairman, British Brazilian All-Party Parliamentary Group
West Malling, Kent
Trump’s tribe
SIR – Martin Henderson (Letters, January 28) claims that educated people in the media who criticise Donald Trump also insult millions of Americans who intend to vote for him. Since Mr Trump has repeatedly said that he loves the uneducated, surely it is he who is insulting them.
Michael Hughes
Birmingham
SIR – It is now a near certainty that Donald Trump will secure the Republican nomination to run for President of the United States. Opinion polls in swing states have him leading Joe Biden to be elected.
Although Mr Biden has not been a bad president, principal, insuperable obstacles to his securing a second term are his age and failing faculties. Court cases aside, he will almost certainly lose to Mr Trump.
If Mr Biden truly wants the next president to be a Democrat, he should stand aside and let someone more capable take on Mr Trump. My choice would be Antony Blinken, a highly competent and accomplished politician, who has the hallmarks of a great statesman.
Sandy Pratt
Storrington, West Sussex
Naval failings
SIR – The report (January 28) that Royal Navy ships are unable to fire land missiles is indeed a scandal. Let us also not forget that two aircraft carriers were launched with no jet fighters, and that this once-proud senior service is close to being an international laughing stock.
To add insult to injury, the Royal Navy is now scrapping ships because of a lack of sailors. Yet in November 2023, nearly 60,000 civil servants were employed by the Ministry of Defence.
What are all these people doing?
Kim Potter
Lambourn, Berkshire
SIR – Reading Daniel Johnson’s analysis of the situation in Ukraine (“Why it may already be too late for the West to avoid war”, January 28), I was reminded of an incident early in my career as a cadet at the RAF College Cranwell, when I was sharply ordered by a visiting senior RN lecturer to “shut-up, sit down or leave” his presentation.
The gentleman had been explaining existing and projected fleet assets, and had touched on aircraft carriers. I had politely inquired whether carriers might run the risk of becoming expensive targets, as they had to be heavily protected by other surface and sub-surface ships.
Mr Johnson writes that “neither [aircraft carriers] Queen Elizabeth nor Prince of Wales has ever been allowed near a conflict zone”. He goes on to say that “the MoD treats these carriers like Ming vases”. So it seems that I might have been right after all.
Flt Lt Simon Green (retd)
Abbotskerswell, Devon
SIR – During the 1980s and 90s I was very involved in military passive- defence preparations. This included gaining defensive skills to survive and operate following a conventional, nuclear, biological or chemical war. Cold War Russia was then the threat.
Our now-depleted services have a very limited passive-defence ability, if any at all, and our island nation is largely unprotected from weapons of mass destruction. For example, who can name one shelter that is staffed, equipped and managed, in which the public would be able to take cover in the event of an attack?
It is laughable for defence ministers to suggest a “can do” attitude will overcome all. Our post-Cold War governments have ensured that the general public and most of the armed forces will not survive an attack by weapons of mass destruction from Russia, China or any other foe.
Philip Congdon
Poyntington, Dorset
Learning by rote gives children a gift for life
SIR – Rote learning (Letters, January 28) seems to have many critics, who argue that now we have modern technology we don’t need it, but it provides portable wisdom. Consider, for instance, Longfellow’s wonderful 1855 poem The Song of Hiawatha, which was passed down by rote learning at a time when many people were unable to read or write. There are many such examples throughout the world, which would have been lost to future generations if they had not been learnt by heart.
Children who memorise their times tables carry with them something that is useful and valuable for the rest of their lives, and the mental exercise of learning something by heart helps the young to develop their mental capacity.
Prosper Paul
Sheffield, South Yorkshire
SIR – My late father loved history. I didn’t, but he did manage to teach me how to remember the all the Tudor and Stuart monarchs: Harry, Harry, Ted, Mary, Liz, Jim, Charlie, Common, Charlie, Jim, Bill and Mary, Anne.
How I wish he had continued with the other monarchs.
Ann Runacres
Ullenhall, Warwickshire
SIR – Many years ago, when teaching at a primary school, I introduced my Year 3 class to the joys of poetry. By Friday afternoon, every child had to learn a poem, which they would then recite to the rest of the class. By the end of the school year many of the class were delivering poems such as Alfred Noyes The Highwayman, which has more than 40 lines.
When I had retired, to my great pleasure I met several former pupils at a wedding. All of them said how much they had enjoyed those sessions, which had instilled in them a lifetime’s love of poetry.
Christine Baldock
Colsterworth, Lincolnshire
Supporting charities
SIR – If the Inter Faith Network cannot survive without large amounts of taxpayer cash (report, January 20), is it really a charity as most people would understand the term? All the charities that I have been a member of – many of which provide important services to the public – have raised their money through donations, shops and fundraising events. If an organisation is dependent on government money, surely it is a quango, not a charity.
Susan Wood
Alderney, Guernsey
SIR – Through Age UK my son in Nottingham has been visiting an elderly, housebound gentleman since the pandemic, which has been a hugely beneficial arrangement for both of them. However, the gentleman has recently been informed by Age UK that my son’s visits will now cost him £12 an hour, which would be totally beyond his means.
My son gives his time and travel free, so who would be receiving the £24 or more each week? Needless to say, he has parted company with Age UK and the mutually beneficial visits will continue without charge.
Mary Guttridge
Sheffield, South Yorkshire
A novel marriage
SIR – I recently reached a page of Patrick O’Brian’s novel The Nutmeg of Consolation in which the parson, Mr Martin, had been charged with a book proof to be conveyed from New South Wales to England. He was very taken with the first page: “Marriage has many virtues,” said Edmund, “and not often remarked upon by bachelors is that it helps to persuade a man that he is neither omniscient nor even infallible.”
I was amused to then read your letters on marriage (January 28).
David Fillingham
Witney, Oxfordshire
Horrors of Heathrow
SIR – I recently returned from the holiday of a lifetime in Egypt. This was a marvellous experience, apart from time spent at Heathrow Airport.
Exchanging 24 Egyptian pounds for £1 sterling (plus £5 fee), compared to 37 to £1 (no fee) from a Cairo ATM, was usurious. And having to pay £85 for a lunch comprising a small burger, a sandwich, a pot of tea and two glasses of wine, was simply daylight robbery.
Friends ask whether I felt safe in Egypt. The answer is yes, considerably safer than in our national airport.
Mark Jamison
Fetcham, Surrey
Vanishing act
SIR – As an active 70-plus lady, I find the torrent of advice I receive online and in the media – all of it urging me to retain my youthful looks – quite confusing. I don’t know whether I should be using peptides, Retinol, pro vitamins, ceramides or hyaluronic acid. It does rather make me wonder what happened to Vanishing Cream.
Lesley McHutchon
Manchester
SIR – Janet Ratcliffe (Letters, January 28) describes feeling old after downloading a supposedly “historical” thriller, which turned out to be set in the 1960s.
I feel the same when radio presenters insist on introducing Beatles’ songs as “golden oldies”. I was 15 in 1963 when the Beatles became household names.
David Harrison
Reading, Berkshire
SIR – I don’t know about Janet Ratcliffe, but I feel old every time my own name is used. I am not aware of any well-known Janets apart from Janet Jackson, and she is now 57.
Where are all the young Janets? Are there any out there?
Janet Wilson
Tregavethan, Cornwell
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