Nothing new. Let's open Hansard, the official report of debates in the Parliament. This excerpt is from the House of Lords, 15 May 1957.
LORD DOUGLAS OF BARLOCH: I want to turn now to the question of inflation, and I am glad that in every quarter of the House to-day there has been a plea that this problem should be dealt with. There was a time, until comparatively recently, when debasing the currency was regarded as entirely immoral, as a species of theft upon a gigantic scale. It was left to this age to pretend that there was something virtuous in this process, and that out of it advantages could come to some or other class of the community. I do not believe that. I think it has been upon every occasion an unmitigated evil. I know that it has been defended by ingenious arguments.
Our late colleague Lord Keynes certainly expounded a thesis which was intended to prove that inflation was beneficial. Among other virtues of it, in his view, was that it would produce the euthanasia of the rentier. Indeed, that has been taking place in recent years. But who are the rentiers who have gradually been squeezed out of existence? They are the old age pensioners, the people who have saved a small amount of money intended to sustain them in their old age, the people who have invested in savings certificates and other Government securities, and who have been advised to do so by successive Chancellors of the Exchequer. Those are the people who have been gradually squeezed and, indeed, rapidly squeezed, by the process of inflation. Others, who possess greater resources and more knowledge and experience, have been able to evade the consequences; and so, at the same time as we have had the euthanasia of the rentier, we have also had the paradise of the speculator, because a period of inflation affords far more opportunities for his enterprise than does a period of stable money and steady prices.
Interestingly, inflation had yet to start in full in 1957: