The Economy Debate

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Department: HM Treasury
Wednesday 22nd May 2024

(6 months ago)

Commons Chamber
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David Linden Portrait David Linden (Glasgow East) (SNP)
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I, too, thank the Minister for advance sight of his statement.

The Government, understandably, would like to paint the latest inflation figures as a win, but I think the House will forgive me if I do not join them in their victory lap. The reality for numerous households across Scotland, many of whom are continuing to struggle, is that the cost of living crisis is far from over, and people are still feeling the pinch in their pockets. Food bank usage is skyrocketing, and mortgage rates are soaring. For people in Scotland, that is the cost of living with Westminster.

The inflation of the past three years has seen prices rise by 19% when they should have risen by 6%. Of course, falling inflation does not mean that those prices will now fall. With figures like this, it is little surprise, is it not, that polling this week showed that just 9% of people across the UK believe that the cost of living crisis is over?

On Friday, I attended a food bank drive at Asda in Parkhead, where residents were donating in their droves to Glasgow NE Foodbank in recognition of the fact that many of their neighbours simply cannot afford to eat. I have one simple question for the Minister: does he not realise that today’s statement, and all the fantoosherie that goes with it, absolutely flies in the face of the reality for many people who are still struggling today in 21st century Britain?

Bim Afolami Portrait Bim Afolami
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My response to the hon. Gentleman, whom I respect deeply, is twofold. First, we are at an inflection point and the job is not complete. We know that many millions of people are suffering, which is why we are continuing to improve their incomes through cutting their taxes. It is why we are continuing to make sure that small businesses around this country can thrive, and why we are continuing to put more money into our public services and, indeed, to reduce inflation. We know that the job is not done.

Secondly, many people have had to suffer as a result of the difficult decisions that had to be taken over recent years because of the generationally unique shocks that we saw. It has been up to this Government to guide and help the country through that, which is what we will continue to do in the weeks and months ahead.