Inflation figures show how unfair Britain has become

Cheryl Pidgeon

Responding to inflation figures published today (Tuesday), which show that the Consumer Prices Index (CPI) increased to 4 per cent and the Retail Prices Index (RPI) to 5.1 per cent in January, Midlands Region TUC Regional Secretary Cheryl Pidgeon said: “The inflation figures show just how unfair Britain today has become. At the top bankers’ pay and bonuses continue to grow, while ordinary people see their living standards fall, their jobs under threat and vital services cut.
“The City sits pretty and calls for interest rate rises, while the rest of the country struggles to pay its bills.
“The last thing that should now happen is a rise in interest rates. Price pressures have nothing to do with wages and much to do with the government’s decision to increase VAT, the unfairest tax of all. Interest rate rises would be nothing more than economic self-harm.”