Labour has accused of leaving ‘families in
Britain worse off,’ as new analysis shows that monthly bills for
the average household have soared
by £481 since 2019/20.
Ahead of the release of August’s inflation figures, analysis by
the Labour Party reveals that if inflation changes as forecast
then families will still be paying £111 more a week on the
cost of living than they were at the start of this
parliament in 2019/20.
Weekly spending on good and services, such as food, transport and
fuel bills, is forecast to rise from £508.50 in 2019/20 to
£619.48 today – or £481 more a month.
It comes as recently told the country to
“hold our nerve” over rocketing costs but even if he meets his
target to halve inflation this month, families will still
be more than £428 a month worse off than they
were in 2019/20.
The out of touch Prime Minister also patronised the public
in August by claiming “no-one quite understands the scale of what
we’ve done” on energy bills.
Labour has called on the government to introduce a proper
windfall tax on the huge profits the oil and gas giants are
making and use that money to help families with the cost of
living.
, Labour’s Shadow
Economic Secretary to the Treasury, said:
“While tells struggling families to
hold their nerve, Britain is worse off because of 13 years of
economic incompetence under the Tories.
“We’ve had a decade of low growth, low pay and high taxes. Now
families are paying the price of the Conservatives’ cost of
living crisis with higher bills and prices in the shops.
“If Labour were in power today, we would help families with the
cost of living by introducing a proper windfall tax on the huge
profits the oil and gas giants are making. Labour’s plan to build
a strong economy will boost growth, increase wages and bring down
bills so working people are better off.”
Ends
Notes:
According to the Office for National Statistics, the average
weekly household spending in the UK was £509 (£508.50) among
households in 2019/20. Family spending in the UK
- Office for National Statistics (ons.gov.uk)
Inflation is forecast to have increased in August to 7.1 per
cent. This means the cost of the same weekly shop will have risen
from £509 (£508.50) in 2019/20 to £619 (£619.48) – an increase of
22 per cent or £111 per week. That means that households would
have to pay £481 more a month to do the same shop as in 2019/20.
Even if the government was to meet its target of halving
inflation this month, people’s weekly shops would still be £607 -
£99 more per week (up 19.4 per cent).
