The Bank of England is expected to announce today that interest rates will rise from 1.25 per cent to 1.75 cent. It would mean the biggest hike in the base rate for 27 years and yet another hammer blow to families struggling with the cost-of-living crisis.
It’s a desperate roll of the dice by the UK’s central bank to bring inflation under control while a Conservative government does little to help. The last 12 years of Tory rule have been a disaster for hard-working families.
When David Cameron was prime minister, his austerity agenda resulted in wages falling and lifeline benefits being cut. Under Boris Johnson, people in Scotland are having to cope with sky-high inflation and exorbitant energy bills that could rise to £500 a month.
