International Labour Organisation makes clear it does not back the bill despite claims from Grant Shapps and Rishi Sunak

UK inflation fell back slightly in December to 10.5% but remains at one of the highest levels in 40 years as the cost of living crisis continues, my colleague Phillip Inman reports.

In a statement issued in response to the figures, Jeremy Hunt, the chancellor, linked continuing high inflation to the public sector pay disputes, and argued today’s figures justified the government’s refusal to award pay rises at or above inflation. He said:

High inflation is a nightmare for family budgets, destroys business investment and leads to strike action, so however tough, we need to stick to our plan to bring it down.

While any fall in inflation is welcome, we have a plan to go further and halve inflation this year, reduce debt, and grow the economy – but it is vital that we take the difficult decisions needed and see the plan through.

International Labour Organisation makes clear it does not back the bill despite claims from Grant Shapps and Rishi SunakUK inflation fell back slightly in December to 10.5% but remains at one of the highest levels in 40 years as the cost of living crisis continues, my colleague Phillip Inman reports.In a statement issued in response to the figures, Jeremy Hunt, the chancellor, linked continuing high inflation to the public sector pay disputes, and argued today’s figures justified the government’s refusal to award pay rises at or above inflation. He said:High inflation is a nightmare for family budgets, destroys business investment and leads to strike action, so however tough, we need to stick to our plan to bring it down.While any fall in inflation is welcome, we have a plan to go further and halve inflation this year, reduce debt, and grow the economy – but it is vital that we take the difficult decisions needed and see the plan through. Continue reading…