00:00It's not good enough, no. It's running at about twice the Bank of England's target
00:04and twice what this government inherited from us on the day of the last general election.
00:08Of course, what it means is higher prices in people's shopping baskets,
00:11means higher mortgages than would otherwise be the case.
00:14And it's also translating into higher interest rates,
00:17which in turn means higher servicing costs on our national debt.
00:22And that's running at about 100 billion a year, and that's twice what we spend on defence.
00:25So it's not good for people's cost of living, and it's very bad for the public finances.
Comments