'These lot have absolutely lost it.'
With no credible plan for economic growth, Tory chancellor Jeremy Hunt has left many gobsmacked by claiming that he would be comfortable with Britain being plunged into recession, if it brings down inflation.
Hunt made the comments to Sky News today, where he insisted that the ‘only path to sustainable growth’ is to bring down the high prices behind the cost-of-living crisis.
While inflation has fallen to 8.7% in April-the first dip below double figures since August last year, families are continuing to struggle with the cost of living, with food bills still rising.
Asked if he was comfortable with the Bank of England doing whatever it takes to bring down inflation, even if it meant a recession, Hunt replied: “Yes, because in the end inflation is a source of instability.
“If we want to have prosperity, to grow the economy, to reduce the risk of recession, we have to support the Bank of England in the difficult decisions that they take.
“I have to do something else, which is to make sure the decisions that I take as chancellor, very difficult decisions to balance the books so that the markets, the world, can see that Britain is a country that pays its way – all these things mean that monetary policy at the Bank of England (and) fiscal policy by the chancellor are aligned.”
Reacting to Hunt’s comments, one social media user wrote: “So the Conservative plan is clear, have a recession so that Rishi Sunak stands a chance of keeping 1 of his 5 pledges to half inflation 🥴
“Jeremy Hunt the chancellor of Tory preservation & not the people.
“These lot have absolutely lost it.”
Kevin Schofield tweeted: “Strong Norman Lamont “higher unemployment is a price worth paying” vibes here …”
Basit Mahmood is editor of Left Foot Forward
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