Conservative MP Nigel Huddlestone refuses to give the Labour party credit for inflation rates falling below 2% for the first time in more than three years. He says, “reducing inflation was a key priority of our government”.
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00:00It is good news and we welcome the fact that inflation is now below target but I think
00:04most people know that with these kind of economic statistics, the run-up to it is because of
00:10work previously done. So I am glad that reducing inflation was a key priority of our government
00:15and it is bearing fruit now. I am concerned though about the direction of travel and where
00:20it may go under the Labour government now because of the decisions they're making which
00:24I fear may actually increase inflation. Well they should do but at the same time there
00:28are some counteracting factors. Of course we've got the budget coming up in the next
00:32few weeks. It does look like this government is likely to increase debt in some way, whack
00:37up taxes as well and all of those things could have some inflationary impact. So yes I welcome
00:43this because it was the number one target, the number one strategy of the previous government
00:47but this government might be making decisions that might mean that inflation goes in a different
00:52direction and that concerns me.