Forbes swift to respond as Labour ties itself in knots
Scottish Deputy First Minister Kate Forbes was swift to respond to the latest UK inflation figures, published on Wednesday.
The data surely make further miserable reading for Chancellor Rachel Reeves.
Annual UK consumer prices index inflation rose still further above the 2% target set for the Bank of England by the Treasury, climbing from 3.6% in June to 3.8% in July.
The breakdown of the inflation data was pretty miserable too, particularly surging food prices.
Economists were quick to highlight signs in the inflation data that businesses were passing on hikes in employers’ national insurance contributions, which took effect on April 6, to customers.
It must be recognised Ms Reeves did not inherit a good economic situation, following the Conservatives’ 14 years in power. And “not good” is putting it very mildly indeed.
And of course the Tories ensured a continuing major drag on the economy from their hard Brexit, the dismal effect of which in fuelling food prices as well as hammering the UK economy should not be underestimated or forgotten.
Labour, seemingly for political reasons, has ruled out rejoining the European single market.
Such a return to frictionless trade and free movement of people between the UK and European Economic Area would boost Labour hugely in its struggles with the public finances - troubles exacerbated by Sir © Herald Scotland
