Inflation Increases By 35% - Minister Says It's Good News - Right Oh!

[ToraToraTora]

https://news.sky.com/story/politics-latest-rayner-to-stand-in-for-starmer-at-pmqs-as-minister-insists-inflation-rise-is-good-news-12593360

Astonishingly the chief secretary to the treasury says it's good news. What planet are these people on?

[Old_Geezer]

That's a big increase !

[ToraToraTora]

Yes OG 0.6 point rise to 2.3 from 1.7 = 35.2%

[teacher1]

Gulliver will be happy ...... he always says that that Labour are on the up !

[CrapatCryptics2]

It probably is good news for a CSTTT who knows his investment portfolio will flourish

[youngmafbog]

The result of left wing 6th form economics.  Thisis just the start, the money men are not happy. Rachael of the complaints department wont be happy.

 

//It probably is good news for a CSTTT who knows his investment portfolio will flourish//

Perhaps you could explanin to me out inflation makes an investment portfolio (That most would have invested around the World anyway) would flourish?

[douglas9401]

A headline worthy of GB News. 🤣

[douglas9401]

A headline worthy of GB News. 🤣

[ToraToraTora]

you can say that again!

[Hymie]

This Labour government has a lot catching up to do on inflation, to match the performance of the last Tory government.

 

In October 2020 annual inflation stood at 0.9%, two years later in October 2022 it stood at 9.6% - more than a 960% rise in 2 years.

[New Judge]

"This Labour government has a lot catching up to do on inflation, to match the performance of the last Tory government."

Indeed. Hopefully the new Labour government will not have the tiresome inconvenience of a global pandemic and the outbreak of a major war in an area which is a source of a considerable proportion of Europe's fossil fuels to interrupt their plans. As I recall, those problems seemed to influence most major economies.

That will just leave them the problem of excessive government borrowing to worry about when it comes to tackling inflation:

https://www.bbc.co.uk/news/articles/c4gx70djyg7o

Some of this was due to the above inflation unconditional pay rises given to many public sector workers.

Still, their tax rises will deal with that. But I forgot (and so did they, it seems) that increased taxes sometimes have an effect on inflation as well.

Never mind. There's always a reduction in spending to consider. 

Chief Secretary to the Treasury Darren Jones said again that the Labour government "...will never play fast and loose with the public finances. Our new robust fiscal rules will deliver stability by getting debt down while prioritising investment to deliver growth."

I wait with bated breath.

[ToraToraTora]

hymie: "n October 2020 annual inflation stood at 0.9%, two years later in October 2022 it stood at 9.6% - more than a 960% rise in 2 years." - it's almost as if some sort of world wide crises occurred. What's the crisis now? I know, Labour are the crisis, they inherited the fastest growing strongest economy in the G7 and are now trashing it.

[youngmafbog]

//This Labour government has a lot catching up to do on inflation, to match the performance of the last Tory government.//

Christ on a bike.  Do people think before posting or is ideaology that powerful that little facts like Covid & Ukraine (the bread basket if the World plus sanctions on Russia) can be ignored?

[Hymie]

Why does the Ukraine/Russia conflict only affect inflation under a Tory Government?

[ToraToraTora]

^^^^ I've heard it all now!

[Hymie]

Ah, so now the UK inflation is not the fault of the current Labour government, but due to external forces such as the Ukraine/Russia conflict.