The price of oil has affected us worse in Britain because the government
has failed to provide storage facilities, back further
North Sea investment or make long-term contracts.
It’s lived from hand-to-mouth and that costs money - lots of it.
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BBC NEWS (not from ‘Online’)
12.8.08 via PoliticsHome Blog Cooper:
inflation figures reflect experience of families 11:20 | 12/08/2008
Yvette Cooper, Chief Secretary to the Treasury BBC News Ms Cooper said that the rise in inflation indicated by the 4.4% rise in the CPI was a reflection of high oil prices "What we're seeing with these figures is what families are already experiencing...as a result of world oil prices. "Oil prices are starting to come down, but it's still difficult for people. "We've seen inflation increase in every country in the world - we're just not producing enough oil as planet," she said. She also said that the government is trying to support people via a £4bn tax cut this year. [How disgraceful can you get ? THAT cut was to make up for the scrapping of the 10p tax rate! - cs] "In the longer term we need to reduce oil dependence. In the short term we need to help people through. "We're cutting taxes by £4bn this year to help people at a difficult time. “ "It is important that we help to support the economy," she said.
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Hammond:
inflation rise a further example of Brown's incompetence 11:30 | 12/08/2008
Philip Hammond, shadow Chief Secretary to the Treasury BBC News Mr Hammond expressed his surprise at the extent of the rise in inflation, and said it was another example of Gordon Brown's economic incompetence. Asked his thoughts on the level of inflation he said, "I'm surprised it was so high. I think its reflect what families are feeling in their purses and wallets. "It's yet another example of Gordon Brown's economic incompetence. "Inflation is now more than double what it was when Labour came to power in 1997 "Of course there a global element, but British inflation is now signinficantly above the Eurozone rate. "In the long term the only sustainable response is to improve our productivity. And we have to get public finances under firm control. "In the short term we need to help families and businesses who are feeling the immediate pain."
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