British Prime Minister Rishi Sunak vowed on Wednesday to halve the rate of inflation during 2023 and grow the economy, in a speech in London on the government’s priorities for this year.
“We are going to halve inflation this year to ease the cost of living and give people financial security. Second, we are going to grow the economy, creating better paying jobs and opportunities across the country,” Sunak said.
The UK inflation rate slowed to 10.7% in November, from 11.1% in October, but remains at the highest level in 40 years.
The Office for Budgetary Responsibility (OBR), which oversees the UK’s public accounts, estimated in November that inflation would drop to 9.1% in December and 7.4% in 2023, but Sunak suggested today that figure could fall. more, to about 5%.
“My expectation is that we can hit half the rate of inflation by the end of this year. Our aim is to get inflation back into place, which is the 2% inflation target that we have set for the Bank of England.” said. journalists
Sunak also assumed the objective of growing the British economy, which will have entered recession by the end of 2022, after having contracted by 0.3% in the third quarter.
According to government estimates, UK Gross Domestic Product (GDP) is expected to fall by 1.4% in 2023, before rising by 1.3% in 2024.
The five priorities identified this Wednesday by Rishi Sunak also include reducing public debt, reducing waiting lists for public health services and introducing legislation to combat illegal immigration through the English Channel, connecting France with the United Kingdom.
“No tricks, no ambiguity, either we comply or we don’t. We want to rebuild trust in politics through action. (…) I ask you to judge us by the effort we are going to make and the results we achieve ”, he is stressed.
The British Conservative Prime Minister’s speech, his first of 2023, comes at a time when Rishi Sunak is under pressure to address problems created by recent strikes in public services such as transport and health, and waiting times. to access hospital emergencies. .
In a survey released on December 30 by People Polling, the Conservative Party attracted just 19% of voters, 26 percentage points behind the Labor Party (45%), the main opposition force.
The next legislative elections should be held in January 2025, but the expectation of most analysts is that the vote will take place in 2024.
Source: TSF
