Inflation figures releases today, 18 May 2022, reveal that inflation has risen to 9%, the highest in 40 years, as households across Newcastle North face a cost of living crisis.
Responding to the figures, Catherine McKinnell, Member of Parliament for Newcastle North, stated:
“Today’s inflation figures show the cost of living crisis is getting worse, with people seeing their household budgets squeezed even further month after month. With energy bills, fuel and food prices rising, on top of National Insurance increases, many families are simply unable to cope.
“Yet still the Government have offered no meaningful help. Instead, Conservative MPs and Ministers continue to patronise hard working families by recommending they learn how to cook or work more hours. It’s so out of touch and shows how little they really understand about the unprecedented crisis we face.
“In Parliament I called on the Government to bring forward an Emergency Budget to provide immediate support to families, including a windfall tax on oil and gas producers to cut home energy bills by up to £600, scrapping VAT on household fuel and stopping the Tory National Insurance tax increase.
“Yesterday the Tories voted against a one off windfall tax on oil and gas producers, despite the record profits they have made in recent months, and today I’ll be backing Labour’s calls for an Emergency Budget. People across Newcastle North simply can’t afford further inaction from the Conservatives”.