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The Return of Inflation: is the Bank of England to blame?

Tuesday 14th September, 12 noon -1pm

As the UK emerges from the pandemic, much of the policy focus will switch to the economy. One central question will be: ‘Is UK money growth excessive? And will it cause above-target inflation?’

On Tuesday 14th September at noon, Politeia will be holding a special event to mark publication of Professor Tim Congdon’s new Politeia pamphlet, The Spectre of Inflation. Tim Congdon is Chairman and Founder of The Institute of International Monetary Research at the University of Buckingham. He and two other speakers, Lord Kamall and Dr Gerard Lyons, will discuss The Return of Inflation: Is the Bank of England to blame? (working title).

Congdon believes that the current annual growth rate of money – at just over 15% – is far too high relative to a trend growth rate of real output, which is probably not much more than 1% a year. Above-target inflation – inflation above 3% – is likely.

If inflation does take off, what would that mean

  • for the Bank of England, with its jealously guarded independence, and
  • for the Boris Johnson government, given that it would have to deal with the political fall-out?

Guest speakers will include:

  • Professor Tim Congdon, Founder and Chairman of The Institute of International Monetary Research, University of Buckingham
  • Dr Gerard Lyons, Chief Economic Strategist, Netwealth
  • Lord Kamall of Edmonton, Professor of Politics and International Relations, St Mary’s University, Twickenham

Edite Ligere, Director of Politeia, will chair the meeting


The event will take place on Tuesday 14th September, 12 noon – 1pm in St James’s, SWI. If you would like to attend, please respond to this e-mail by writing to with your name, position, organisation and phone number, and we shall put you on the list. If you would like to bring a guest, please let us have the name and contact details.

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