DAILY MAIL COMMENT: Inflation fall shows Tories can deliver
The dramatic fall in inflation to its lowest level for two years is good news for everyone. It heralds lower interest rates, cheaper mortgages and much-needed relief for families struggling with soaring food and energy prices.
And while it’s too early to celebrate an end to the cost of living crunch, figures suggest the Government is on the right track.
UK inflation dropped from 4.6 per cent to 3.9 per cent last month – a much steeper fall than predicted.
This represents a major achievement for Rishi Sunak, who pledged last January to halve inflation from 10.6 per cent.
In fact, it has plummeted by nearly two-thirds. True, global factors such as easing energy prices have helped.
This represents a major achievement for Rishi Sunak, who pledged last January to halve inflation from 10.6 per cent
But ministers have played their part. Tighter spending controls and standing firm against outlandish public sector pay demands have stabilised the nation’s finances. This should give the Chancellor enough financial headroom to cut taxes, currently at a crippling 75-year high.
But despite the positive signs, there are still massive obstacles on the road to Britain’s recovery.
Most immediately, the junior doctors of the Left-wing British Medical Association seem determined to keep dragging the NHS down with their vindictive campaign of strikes. They have been given an exceptionally generous pay offer. They should accept it, stop playing politics and get back on to the wards.
Quite apart from costing the health service £1billion-plus, cancelled operations and appointments mean countless patients are languishing unnecessarily on waiting lists, many unable to work.
This adds hugely to the staggering number of people classed as ‘economically inactive’. There are 2.6million on long-term sickness benefit, apparently incapable of taking on any paid employment – half a million more than before the pandemic. This is simply unacceptable.
Tighter spending controls and standing firm against public sector pay demands should give the Chancellor enough financial headroom to cut taxes, currently at a crippling 75-year high
But then look at the example being set by the civil service, which appears to be rapidly losing its work ethic.
All ministerial efforts to coax staff back to the office have been sullenly resisted – another damaging drain on productivity.
The opposition parties insist they would make a better fist of things, but the evidence tells another story. A new Treasury analysis concludes that Labour’s £28billion-a-year green spending spree would force up interest rates, so the average mortgage holder would pay an extra £160 a month.
And for a broader view of how Labour would govern the UK, just look at the shambles it has created in Wales.
The party’s economic incontinence has left a £900million black hole in the country’s finances, which is now having to be filled with business rate hikes and swingeing budget cuts.
The junior doctors of the Left-wing British Medical Association seem determined to keep dragging the NHS down with their vindictive campaign of strikes (File Image)
Yet even that is dwarfed by Scotland’s dysfunctional government.
Despite record Westminster subsidies, the socialist SNP has wrecked its country’s finances so badly it is having to impose eye-watering tax rises to stay afloat.
The 45p tax rate will kick in at £75,000 and anyone earning over £100,000 will pay up to 67p in the pound. So for every three pounds they earn, the state will take two. This isn’t fair taxation, it’s daylight robbery.
The truth is that for all their failings, only the Tories have a credible economic plan – and it seems to be working.
With recent announcements on trans guidance in schools, free speech in universities, and a real commitment to cut both immigration and the ballooning welfare bill, the Government seems to be returning to common sense Conservatism.
Most pundits have written off the party’s chances. But come the election campaign, Sir Keir Starmer will have to get off the fence and take a position on these issues.
When Labour’s true colours are revealed, the voters may not like what they see.
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