INFLATION- THINK OUTSIDE THE BOX

The BoE has only one option to reduce inflation and that is interest rate hikes to reduce demand. However this makes the banks and bwankers richer. There are other alternatives – tax rises aimed at those who have money to spend (surely it is not the poor fuelling inflation?). A rise in VAT on luxury items . I am sure that there must be at least one economics student who has the ability to think outside the box. Interest rate hikes are there to reduce demand in a generic way. Surely we do not want to reduce demand for healthy foods, medicines and exercise. So maybe the whole vat system needs refinement? help me here!