Today the Labour Party has released a new party political broadcast, slamming the Tory government’s record on inflation. The video provides a damning summary of the state of the UK economy, framed around the cost of a simple cup of coffee. It includes hard-hitting facts such as “A year ago it would have been around £2.50 but now it’s gone up to nearly £3 a cup.”
“And the price of the weekly shop, if you look at food prices it’s gone up by about 16%, and for the poorest families the things they typically buy has gone up even more.”
The Bank of England’s inflation target is 2%, but currently inflation is about 10% – that means more expensive food, fuel, it means unemployment going up, businesses failing. The pound in your pocket is worth less than it used to be.”
The PPB was trailed in The Mirror last night, which wrote it would be “a hard-hitting video with no music or decoration”. Oddly, the paper reported it would feature a personal message from the Labour leader, however the version Guido’s got his hands on instead features a very convincing look-alike of Chancellor Jeremy Hunt.
The Labour Party broadcast* also bizarrely argues that inflation is both a global crisis the Tories had nothing to do with – ignoring that somehow a country like Switzerland, which that didn’t implement large scale quantitative easing (QE) had an average CPI of 2.8% last year – and claims that price levels are something the government can claim credit for bringing down. When actually energy inflation is, as the broadcast makes clear, the key factor. All very confusing, though more watchable than Rishi’s stiff to-camera party broadcast put out last week…
*Apparently it is a Treasury Political Broadcast