Rising food prices are set to become an election issue as launching today (31), Labour is focusing on the issue in its local election campaign, stating that British families are now £2,620 worse off.
According to new research published by Labour, families are set to be poorer to the tune of £2,620 under the Conservatives’ watch – even after the Chancellor’s spring statement.
The figure combines estimates of price rises across food shopping, energy prices and the tax burden.
Party leader Sir Keir Starmer has called on voters across the UK to “send the Tories a message they cannot ignore” on the issue.
“Britain deserves better than the pathetic response we got to the Conservative cost of living crisis in the mini-Budget.
“You know the reality – prices are going through the roof, and wages are going through the floor.”
He claimed the Conservatives have overseen “the biggest drop in living standards since the 50s” and the highest taxes in 70 years.
“Working families feel more insecure than ever. While prices are rising in the supermarkets, at the petrol pumps and in our electricity bills, the government has chosen to put up national insurance at exactly the wrong time,” he will say.
“Even allowing for everything the Chancellor announced, families are £2,620 worse off. Britain deserves better than this.”
Sunak in his Spring Statement has set out measures aimed at easing the pain of rising prices, including a cut to fuel duty.
But the Labour chief said the government “takes far more than it gives to working people”, pointing to a coming rise in National Insurance tax.
“Labour would tackle the Tory cost-of-living crisis by cutting your bills by up to £600 funded by a windfall levy on the excess profits of the oil and gas companies,” he added.
Labour’s declaration comes a week after a government’s economic forecaster said the UK is facing the biggest drop in living standards since records began in 1956.
The Office for Budget Responsibility has predicted household incomes will drop by 2.2 percent this year.