A Conservative MP was called out on live TV for trying to take credit for the recent drop in inflation, even though the Tories are no longer in power.
Inflation unexpectedly fell to 1.7% in the 12 months leading to September, the lowest rate since April 2021, when the cost-of-living crisis began.
However, Nigel Huddleston, a Conservative MP, claimed that this good news was due to decisions made by the previous government, not Labour, who came into power in July.
Long-Term Economic Planning?
Speaking on Sky News, Huddleston, the shadow financial secretary to the Treasury, said the Conservatives “welcome” the inflation drop. He added, “There’s a time lag to these economic statistics. This reduction is largely a result of the difficult decisions we made when we were in power.”
Host Kay Burley interrupted, asking, “You’re not claiming success for the previous government, are you?”
Huddleston responded, “This didn’t happen magically since Labour took over in July. It’s the result of long-term economic planning.”
Criticism of Tory Responsibility
Burley quickly pointed out that when inflation dropped under the Conservative government, they claimed it was due to their policies. However, when inflation went up, they blamed external factors.
When Rishi Sunak became Prime Minister, inflation was at 10.7%. He promised to halve it by the end of 2023, which eventually happened. But the fall in inflation was already predicted due to the drop in energy prices.
The Bank of England, using interest rates to control inflation, also played a significant role, rather than the government itself.
Global Factors and Labour Criticism
Huddleston denied Burley’s suggestion that the Tories’ legacy was overstated, arguing that inflation had risen globally due to events like the Ukraine invasion and the pandemic. He said, “Inflation went up around the world and has now come down around the world. It’s also due to the tight fiscal policies we adopted when in government.”
However, he criticised Labour’s upcoming Budget plans, warning that their proposed spending increases and tax hikes could be “dangerous” for inflation.
Labour’s Response
Darren Jones, the Chief Secretary to the Treasury, responded positively to the news of the inflation fall, saying it was “welcome news for millions of families.” He also emphasised that there is more work to do, stating, “We are focused on boosting growth and restoring economic stability to deliver real change for working people.”
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