 Adam
Afriyie
MP
|
Chancellor Absent as
Inflation Rises
19-Jan-07, Windsor Express
Article.
Some economic figures released this week have
caused a deep shudder for those of us of a certain age.
Inflation now stands at 3% which is its highest rate in
11 years! It is almost double the 1.6% rate that the
Government inherited in 1997. In addition, the Retail Price
Index now stands at 4.4% - its highest level since 1991.
These high levels represent worrying rises in the cost of
living for many families, who may now struggle to make ends
meet. If that weren’t enough to concern us, the Bank of
England has been forced to hike interest rates to 5.25% and
this may well not be the last. People with mortgages, loans
and credit card debts will now see their monthly repayments
rise accordingly.
The Government has tried to explain the rise in inflation
by blaming high oil prices, but that fails to explain why
our inflation rate is now double that of the rest of the
world. It perhaps seems more likely that Chancellor Brown’s
economic policy is to blame, which has seen him borrowing
more and more as he attempts to fill a huge hole in the
public finances.
It is unsurprising that many people were disappointed to
learn that the Chancellor had flown to India at the last
minute to take part in a trade trip with Alistair Darling.
But with inflation, costs of living and unemployment figures
all higher than they were in 1997, it is no wonder the
Chancellor has not stuck around to defend his economic
policy. |
I
believe
People are happier
when making their own decisions.
Business is the
engine of the economy that generates our jobs, incomes and
taxes.
Government should
not interfere in our lives beyond protecting and defending
us.
|
