Today’s further rise in inflation is deeply worrying, and once again shows how the Tories’ seven years of failed economic policy means working people are losing out – McDonnell

John McDonnell MP, Labour’s Shadow Chancellor, responding to today’s inflation figures, said:

“Today’s further rise in inflation is deeply worrying, and once again shows how the Tories’ seven years of failed economic policy means working people are losing out, with wages lagging behind prices since the Tories came to power.
“Young people in particular, are suffering from a widening pay gap between the under and over-24s – increased by age distinctions in the Tories’ so-called National Living Wage.

“And after seven wasted years of Tory economic failure with real wages falling behind prices, and living standards being squeezed, working people in our country simply cannot afford more of the same from Theresa May and her party.

“Only a Labour government will ensure working people’s living standards are protected with a real Living Wage of £10 per hour, and immediate end to austerity spending cuts. At a time when the government is in total disarray, if they will not act then they need to stand aside and let a Labour government build an economy that works for the many, not the few.”