Prime Minister Rishi Sunak faced stark calls for a general election if he failed to meet his inflation reduction target. Mr Sunak was berated in the House of Commons, with one MP dubbing him as "literally the worst person" to lead the nation through a cost-of-living crisis due to his alleged role in its creation.
During Wednesday's Prime Minister's Questions, the MP shrugged off the attacks from the Labour benches and criticized the Opposition's economic plans, asserting that he is "making difficult and tough decisions." Having previously pledged to halve the inflation rate by year-end, the Prime Minister now faces a formidable challenge.
The recent move by the Bank of England to raise interest rates has caused alarm for many households on variable or short-term fixed mortgages, as a stubbornly high inflation rate stands at 8.7%.
Labour MP Alison McGovern (Wirral South) took aim at Sunak in the Commons, highlighting his promise to reduce inflation to 5% or lower by year-end, before raising the question: "What will happen if he fails to meet that promise? Will it be yet more ranting on about the Labour Party, or will it be the general election my constituents crave?"
In response, the MP replied: "No, we're sticking to the course of bringing inflation down. What the Labour Party needs to understand is that requires making difficult and tough decisions. It requires prioritising. It requires being able to say 'no' when people come looking, asking you to borrow more money. Those are the type of responsible decisions that I will make and the Conservative Government will make because they're the right ones for the country."
Sir Chris Bryant (Rhondda), a former Labour minister, launched a scathing attack, asserting that during Sunak's 1,323 days in charge of the UK economy, he has presided over the "largest national peacetime debt ever, the largest tax burden since the Second World War, the highest core inflation since 1991, the fastest interest rate rises since 1989, and the biggest fall in living standards in our history."
Sunak's response dismissed the criticism, saying: "What do we hear from the party opposite? Only ideas that would make the situation far worse." He accused Sir Chris of supporting Labour's plans to borrow more money, warned against "unaffordable" union pay demands, and criticized plans to disregard domestic energy sources, jeopardizing the nation's energy security.
Plaid Cymru Westminster leader Liz Saville-Roberts also took a swipe at the Prime Minister, claiming his solution to inflation was pushing families into poverty while allowing corporate profits to accumulate. She cited the International Monetary Fund (IMF), which this week suggested that companies should reduce their profit margins to combat inflation. She argued that it is corporate greed, not workers' need for fair pay, that is fueling inflation.
In response, Sunak highlighted Chancellor Jeremy Hunt's meeting with economic regulators to ensure fair pricing. He further asserted that the IMF had "strongly endorsed" the UK Government's plans to reduce inflation.
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