Owen Smith: This disappointing Inflation figure ends encouraging recent falls |

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Owen Smith: This disappointing Inflation figure ends encouraging recent falls

Owen Smith MP, Labour’s Shadow Treasury Minister, responding to today’s inflation figures, said:

“Inflation has been stubbornly high now for a year and a half and this disappointing figure ends encouraging recent falls.

“Household living standards will be falling as a result and it is really tough on pensioners who are facing the Granny tax and families with children facing a £511 a year hit this year as a result of George Osborne’s tax rises and spending cuts.

“But the underlying problem in our economy is a lack of growth and high unemployment as well as the squeeze on family incomes. That is why to ease the squeeze on families and as part of our five point plan for growth and jobs we have called for an emergency temporary reversal of the Government’s mistaken VAT rise which has cost a family with children £450 a year.”