Inflation figures are still higher than the Bank of England’s target – Peter Dowd
Peter Dowd MP, Labour’s Shadow Chief Secretary to the Treasury, responding to today’s inflation figures by the ONS, said:
“This morning’s inflation figures are still higher than the Bank of England’s target. It is more bad news for working people still struggling with real earnings lower than when the Tories first came to office in 2010.
“The Spring Statement last week was clearly a missed opportunity that exposed Philip Hammond’s complacency, as it contained no new measures to deal with this rising burden faced by many working families after eight years of Tory economic failure.
“The next Labour government will introduce a Real Living Wage at £10 per hour to tackle the slide in living standards, and build a high wage, high skill economy for the many, not the few.”