John McDonnell comments on the Bank of England's interest rate increase

The video discusses the economic challenges facing the UK, including rising interest rates, inflation, and the impact of Brexit. It emphasizes the need for government action to address these issues, such as scrapping the pay cap and investing in the economy to boost growth and productivity. The role of the Bank of England and its independence is highlighted, along with the effects on individuals with debt. The importance of investing in skills and tackling productivity issues is also discussed.

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