Bank of England: If Hunt doesn't meet inflation target then he must go

EMBARGO: Immediate release

Responding to the Bank of England's rise in interest rates and new higher than expected inflation forecasts, Liberal DemocratTreasury spokesperson Sarah Olney MP said: 

"This is a hammer blow to struggling families who simply can't balance the books with these endless price rises.
 
"With mortgages and inflation remaining at sky high levels, Jeremy Hunt is frankly failing at his job. He was set one main goal, which was to bring down prices, yet today confirms he is nowhere near achieving that. 

"The deadly rise in food prices is to blame for this cost of living crisis yet the Chancellor refuses to act. 

"If Jeremy Hunt doesn't meet his self-imposed inflation target and bring down food bills soon then he must go. Families and pensioners just want an end to the cost of living crisis, yet Jeremy Hunt looks the like yet another Chancellor who isn't up to the task."

ENDS

NOTES TO EDITORS

Rishi Sunak risks missing target to halve inflation, NIESR warns - Guardian