John McDonnell Joins Bank of England Strike Action

The video discusses the impact of a government-imposed pay cap amidst rising inflation, particularly affecting living standards in high-cost areas like London. It highlights the Bank of England's independence from the government, suggesting it could negotiate better pay settlements. The blame is placed on the government for setting an unrealistic pay cap, leading to increased household debt as people struggle to maintain their living standards. The video advocates for the abolition of the pay cap.

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