Memo to Mark Carney, governor of the Bank of England, and the other members of the UK's Monetary Policy Committee.
My wife and I currently go out for dinner once a week, spending c£45 at ASK Italian on a Saturday evening. Raise interest rates and that spending will be the first casualty as the monetary belt tightens, and it won't be the last; I don't think that you understand for a second how tight things are for 'ordinary' people. It's not a question of putting the butler, the cook and the footmen on short time; it's a question of living rather than existing.
Push rates up and we'll see a second downwave, I predict, as people begin to take serious cost-cutting measures in addition to the ones already made over the past seven years. We have our contingency plans in place; I wonder how many others are also mentally packing the lifeboats.