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Thursday, February 29, 2024

Sunak Utterly Failing to Bring Down Sky-High Inflation

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The SNP has said Rishi Sunak is ‘utterly failing’ to bring down inflation as it remains at a sky-high level.

The latest figures from the ONS show inflation is still at an extortionately high rate of 10.1%.

This is being driven by food inflation with the price of milk increasing by more than a third and ready meals increasing by a fifth.

It leaves the UK with one of the highest inflation rates amongst major economies, with Italy’s inflation rate at 8.2%, Germany 7.8%, France 6.6% and the USA 5.3%.

Inflation rates have stayed higher than previously predicted as economists expected it to drop below 10%.

Rishi Sunak pledged at the start of this year to half inflation by the end of 2023.

Commenting, SNP Economy spokesperson Stewart Hosie MP said:

“Households across the country are still facing sky-high shopping and energy bills and it is down to Rishi Sunak and his Tory UK government as they are utterly failing to keep inflation under control.

“It is the Tories who caused this cost of living crisis and at the moment they are doing next to nothing to ease the pressure on household budgets.

“Inflation in the UK remains high compared to other major European nations because of Brexit.

“Combined with the UK predicted to have the worst growth of any major economy, the UK is on a downward spiral all at the hands of Brexit.

“There will be no cause for comfort from a pro-Brexit Labour government either as they would keep Scotland out of the European Union, a market seven times the size of the UK’s, and the economic turmoil would continue.

“That is why the only way Scotland can escape the economic incompetence of Westminster control is by becoming an independent country and re-joining the European Union.”

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