Cost of Living 2023-06-20
2023-06-20
TAGS
Response quality
Questions & Answers
Q1
Partial Answer
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Context
Households are experiencing cost of living pressures due to inflation.
What recent assessment has been made regarding the potential effects of policies on inflation and the cost of living?
We know the pain households are going through due to cost of living pressures, and have announced a support package worth around £3,300 per household this year and last.
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Assessment & feedback
Specific assessment details not provided
Response accuracy
Q2
Partial Answer
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Context
Which? report highlights food price increases by 26.6% and security measures on baby formula milk.
Given the UN's sustainable development goal to eradicate poverty by 2030, will the Chancellor cap essential food prices and address excessive profits in the food industry?
I do not believe that capping prices is the right long-term solution. However, we are providing payments of £900 per household for people on means-tested benefits, £150 for households with someone disabled living in them and £300 for households with pensioners.
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Assessment & feedback
No commitment to cap prices or address profiteering
Response accuracy
Q3
Partial Answer
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Context
Mark Carney warned of weaker pound, higher inflation, and weaker growth due to Brexit.
Does the Chancellor believe it is fair for households to bear the consequences of ignoring the Bank of England's warnings on Brexit?
I do not buy this Brexit narrative from the SNP. Food price inflation has been around 20% elsewhere too.
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Assessment & feedback
Addressing fairness and warnings
Changed Subject
Response accuracy
Q4
Partial Answer
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Context
US Treasury chief described UK's economic policy as flawed.
Will the Chancellor admit that leaving the single market has had a significant impact on inflation and household finances?
The UK economy is growing faster than France or Italy since we left the single market, according to the IMF.
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Assessment & feedback
Impact on inflation and finances
Changed Subject
Response accuracy
Q5
Partial Answer
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Context
Mortgage costs are rising, leading to concerns about home loss.
Is now the time for the Chancellor to reintroduce mortgage interest relief at source?
While sympathetic to difficulties, injecting large amounts of cash into the economy would be inflationary.
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Assessment & feedback
Specific commitment to reintroduction
Response accuracy
Q6
Partial Answer
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Context
Mortgage rates have increased from 2.57% to 6%, causing concern.
In the absence of changing the Bank of England inflation target, what do the Government plan to do about mortgage pain?
We will look at doing everything we can to help people under pressure but avoid actions that would prolong inflation.
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Assessment & feedback
Specific plans for mortgage relief
Response accuracy
Q7
Direct Answer
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Context
OBR forecast inflation to peak at 2.9% but it reached 5%, now 8.7%. Food inflation is 16.5%
Given the current high inflation, will the Chancellor guarantee halving inflation as promised by the Prime Minister?
The IMF, OBR and Bank of England predict hitting our target to halve inflation. We will stick to this plan.
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Assessment & feedback
Response accuracy