UK food giants are blaming Labour’s policies rather than global events for pushing up prices – cutting through government spin that inflation is out of their hands. Rachel Reeves has been quick to cite Trump’s tariffs and ongoing wars for troubles at home…
The Food and Drink Federation expects food and drink inflation to hit 5.7% by December, pointing to the “financial burden of government policies” such the NICs hike and the new ‘net zero’ packaging tax. Food prices are already 38% higher than in January 2021, while the OECD forecasts the UK will suffer the highest inflation in the G7…
Labour’s failure to cut red tape is also taking the blame. Ranjit Singh Boparan, owner of 2 Sisters – the country’s largest chicken producer – warned:
“We’re in a vicious cycle. Give us planning permission, and we’ll support the farms to build more infrastructure to supply the food on the plate. They can’t get planning permission, demand is growing, so prices are going up.”
Meanwhile, the Institute of Chartered Accountants in England and Wales reports that business confidence is in “freefall” ahead of Reeves’s winter budget, with firms already cutting spending in anticipation of tax rises. It’s cold out there…
Tom Baldwin, author of Starmer’s hagiography, spoke to Times Radio:
Tom Baldwin: “I think he’d like to do something. He’s very dutiful and driven by service. That’s why he came into politics. I think that’s characterised his time as prime minister. He hasn’t always sought popularity or been good at being popular. But I think he has some of the necessary qualities that we actually do want in a prime minister. That resilience, that relentlessness, that ability to carry the weight and the job really does weigh very heavily on people and he carries that weight very, very well.”
Jo Coburn: “NATO Secretary-General?”
Tom Baldwin: “I think that’s something that he would be interested in. I think it probably requires Andy Burnham’s government to support him in that and these are some of the questions which Andy Burnham has to resolve quite quickly.”