That it was predicted makes it no less painful. Inflation has hit a 40-year high, driven largely by soaring fuel costs. And prices are set to rise further still. Figures from the Office for National Statistics show inflation reached nine per cent in April, its highest level since 1982. The jump from seven per cent in March came as millions of households faced a £700 rise in the energy price cap.
Inflation hits us all, but not equally. The Institute for Fiscal Studies says that the rate for the poorest is about 11 per cent, because people with less disposable income spend a greater proportion of their budget on energy and food. Benefits rose by only 3.1 per cent at the Spring Statement.
Inflation is a worldwide phenomenon, driven by Covid supply chain issues and the war in Ukraine — though Brexit has been a unique factor. The key challenge is therefore how governments respond. The British people should expect its own to provide meaningful and targeted support. Therefore, rather than briefing against the Bank of England’s Governor, the Government should be implementing its plan to protect the most vulnerable from free-falling living standards. This is not a time to do nothing because the problem is not going away. The ONS predicts double-digit inflation in the coming months.
Boris Johnson’s usual bluster and boosterism cannot mask depleted shopping baskets or ordinary people fearing to turn their heating on come the autumn. Whether or not it is funded by a windfall tax on the oil and gas giants — a policy with which BP and Shell appear to be reconciled — the Government must treat this moment with the urgency ordinary people are. Not least because wherever there is an economic crisis, a political one is rarely far behind.
Unseemly state
Another day, another scandal in Westminster. A Conservative MP in his fifties has been arrested on suspicion of rape and sexual assault. The Metropolitan Police has revealed that the man was in custody for offences that allegedly took place in the capital between 2002 and 2009 and has now received bail.
These allegations would be shocking were they to exist in isolation. But coming so soon following the conviction of former Tory MP Imran Ahmad Khan, who resigned his seat following a conviction for sexually assaulting a 15-year-old boy, and the behaviour of “porn MP” Neil Parish, it is yet another blow to Parliament’s reputation. One thing that is clear is that this is not a party political matter. According to a Sunday Times investigation, 56 MPs — including Cabinet and shadow cabinet ministers — have been reported to the Independent Complaints and Grievance Scheme over allegations of sexual misconduct.
MPs should be above reproach. Each of them holds positions of power and authority while they also interact regularly with the public. It is therefore an issue of public safety and confidence in our wider political system that these are investigated and the whole culture overhauled.
Reigning Supreme
From one legend to another, soul icon Diana Ross is set to headline the BBC’s Platinum Party at the Palace. The Queen of Motown playing for another — ain’t no mountain high enough to keep us from getting there.
