The Wage Price Spirale

Andrew bailey says the rise in prices we are experiencing right now is a result of profits being very, very high. He argues that if you want to address the costs of living crisis, what you need to do is reduce the profits and pay people more. And it's not a wage price spiral. Wages are desperately trying to chase prices. Is the exact opposite of what andrew bailey is saying here. But i think people really need to be quite confident about taking some of these arguents onks. They're really hammering the idea that you can't ask for a pay increase. It's lurking behind what the bank of england is doing in putting up interest