Jeremy Hunt said “we are beginning to win the battle against inflation” but “there’s lots more work to do” as he responded to this morning’s data published by the Office for National Statistics (see the post below at 08.00).
The Chancellor said meeting the promise of halving inflation would allow the Government to “move to the next part of our economic plan”, focused on growth.
He told broadcasters: “In January, the Prime Minister said that his number one pledge was to halve inflation. People at the time said that was going to be easy to deliver, it would happen automatically.
“We now know that wasn’t the case, we took some very difficult decisions to control borrowing and debt, and we have now delivered that pledge a whole month early. There’s lots more work to do. We still have to bring inflation down to its target level of two per cent.
“But now we are beginning to win the battle against inflation, we can move to the next part of our economic plan, which is the long-term growth of the British economy. That’s why next week will be an autumn statement for growth.”