A Conservative MP was called out on live TV this morning by for trying to take credit for the recent decline in inflation, again, even though they are no longer in power.
Inflation unexpectedly fell to 1.7% in the 12 months to September, the lowest rate since April 2021 when the cost of living crisis first began brewing.
But Nigel Huddleston claimed this good news is down to the Tories, rather than Labour who were elected in July.
Speaking to Sky News, the shadow financial secretary to the Treasury said that the Conservatives “welcome” the reduction in inflation, but added: “But of course, you know, there’s a time lag to these economic statistics.
“This reduction is largely a result of the difficult decisions we made when we were in power, when we were in government.”
Presenter Kay Burley then cut in: “You’re not claiming success for the previous government?”
“This didn’t happen magically since July, since there’s [been] a Labour government,” the Tory MP claimed. “This is a result of long-term economic planning.”
But Burley said: “Let me stop you there. When inflation comes down, your government always used to say it was a result of what you were doing, when inflation went up, you said it was nothing to do with you.”
When Rishi Sunak first got into No.10, inflation was at 10.7%.
The then PM pledged to halve it by the end of 2023, something which did then happen, and the Tories took responsibility for.
But, it was already forecast at the time as energy price spikes fell out of the inflation index.
It’s also down to the Bank of England using interest rates as a lever to control inflation, not the government.
But on Sky News, Huddleston said Burley’s assessment of the Tories’ legacy was “not true”.
He then added an increase in inflation was “largely due to economic factors around the world”, pointing to the invasion of Ukraine and the pandemic.
“I think inflation went up around the world and now it’s come down around the world, but also it’s combination with pretty tight fiscal circumstances that we adopted when we were in government,” the Tory MP said.
“That’s not necessarily the case we’re seeing now,” he added, before going on the attack.
He said Labour’s supposed plan to “splurge money” in the upcoming Budget while also increasing taxes was “dangerous for the direction for travel of inflation”.
Responding to the news of the inflation fall, chief secretary to the Treasury, Darren Jones, said the decline will be “welcome news for millions of families”.
He added: “However there is still more to do to protect working people, which is why we are focused on bringing back growth and restoring economic stability to deliver on the promise of change.”