UK inflation has soared to 5.4%, the highest recorded since 1992, with food price inflation, which is now at the highest level in nine years, being identified as the biggest contributor.
Toby Perkins, MP for Chesterfield, has blasted the government saying, “Inflation has hit a 30 year high at the same time that real term wages are back down to 2008 levels. With the looming threat of massive increases to household energy bills, and food prices expected to continue to increase, families will struggle to pay their bills and many pushed into poverty. The Government are asleep at the wheel with the Prime Minister too busy trying to save his own skin following his rule breaking and lying.”
Labour have called on the Government to cut VAT from energy bills and proposed a £1.2bn windfall tax on energy providers to help households and businesses with soaring bills. This would save all households £200 a year and around £600 to over 9 million of the poorest households
Labour have also called on the Government to reverse the cut to Universal Credit of over £1000 per year and cancel the planned increase in National Insurance contributions.
Toby Perkins added, “We have seen school staff receiving only a 1.3% pay rise, which is a significant real terms cut, State Pension rises are over 2% lower than current inflation rates, Winter Fuel Payments have remained at the same level for over a decade, there have been massive Universal Credit cuts and we are going to see Tax and National Insurance hikes coming in a few months.
The Conservatives are too distracted by scandal and infighting to sort out the cost of living crisis.”