Tim Lang hasn\’t read the Oxfam report

But Professor Lang still feels bound to pontificate on it.

Oxfam prophesises that food prices will double by 2030. That would take the average British shopping basket to around 20% of disposable income. But to the poorest of the world, it would mean almost all income going on food.

Err, no, that\’s not what the report says.

Actually, it says that prices will rise and so will incomes. Indeed, that prices will rise because incomes rise. And it even shows that the proportion of household incomes spent on food will be roughly static.

Twat.

 

2 comments on “Tim Lang hasn\’t read the Oxfam report

  1. On that assumption over the next 19 years China’s income will rise 6 times. Perhaps a 20% increase in prices, even if it menas without inflation, will not be a problem to competently run countries.

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