Conservatives react to ‘pretty shocking’ inflation figures
Video Credit: ODN - Duration: 00:58s - Published
Conservatives react to ‘pretty shocking’ inflation figures
Shadow Chancellor Sir Mel Stride describes April’s rise in inflation to 3.5% as “pretty shocking” and says they are “down to government choices”, citing public sector pay rises and increases in employers' National Insurance.
Report by Blairm.
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Shadow Chancellor Sir Mel Stride welcomed the UK’s 0.7% growth but warned it’s "no time to pop champagne corks." He pointed to signs of a slowdown in March and rising pressures on businesses from tax and regulatory changes. Stride said wider forecasts still predict weaker growth ahead, warning the economy faces "stress and strain" despite this short-term boost. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The Bank of England has cut interest rates from 4.5% to 4.25%. Shadow chancellor Mel Stride reacted to the news, claiming Labour's policies have prevented higher cuts to interest rates. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Shadow Chancellor Mel Stride warns that the UK could face higher prices, job losses, and lower wages without a trade deal with the US. He said that businesses, investors, and stock markets are unhappy, urging the government to accelerate negotiations and secure a deal quickly to avoid economic difficulties. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The Tories have criticised the government for not being “quicker” with talks about tariffs imposed by the US. Shadow Chancellor Mel Stride said Labour’s comments about Trump whilst they were the opposition were “unhelpful” and could have “soured” relations with the Trump administration. Report by Faragt. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Despite reported pressure from within the Labour Party, Chancellor Rachel Reeves insists the cut in winter fuel allowance for most pensioners “stands”, to “stabilise the public finances”. Report by Blairm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Rachel Reeves admits April’s inflation rise to 3.5% is “clearly disappointing” but acknowledges the figures are partly down to government policies to “stabilise” the economy. The chancellor says, “I do recognise that all policies have consequences, but if I hadn't have acted to stabilise the public finances, we would be in a worse position today." Report by Blairm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Children being bombed and the prospect of starvation in Gaza is “intolerable”, Sir Keir Starmer has said, after his Government launched fresh sanctions on West Bank settlers and paused trade talks with Israel. Report by Gluszczykm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
David Lammy announced new measures against Israel but Labour, Tory and Liberal Democrat backbenchers urged him to go further. The Government will impose new sanctions on three individuals and four entities involved in the settler movement, and has suspended negotiations with the Israeli government on a new free trade agreement. Report by Gluszczykm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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