The UK’s National Health Service (NHS) faces the longest doctor’s strike in its history as junior doctors in England demand a 35% pay rise, arguing that the rise in wages is needed due to inflation.
If neither wages nor energy prices can explain why the ECB is right in being concerned about persistent inflation, then what can explain it? There is a candidate that nobody wants to talk about: taxes.
Although this new minimum-wage agreement is not legally binding, it will in all likelihood be treated as such by the EU institutions. We can expect the price floor on labor to be frequently updated and rise regardless of whether businesses can afford it or not.
