Inflation weighs heavy on PM - and everyone else... |
| There aren't many decisions being made in businesses around the UK right now that don't take some account of the country's high rate of inflation.
And for Prime Minister Rishi Sunak, not even a trip to see the cricket gave him respite.
Quizzed on the BBC's Test Match Special - in what was an otherwise mostly lighthearted interview - Mr Sunak admitted that the burden of easing the economic pain felt by households "weighs heavily" on him.
The Prime Minister's comments come as inflation continues to remain stubbornly high, while the Bank of England's decision to hike interest rates threatens more misery for mortgage-holders.
He said: "I'm very lucky, my family are incredibly supportive, but you know, gosh, I do and I did as Chancellor as well because you know, thankfully, it didn't happen in the end, but people were forecasting millions and millions of people to lose their jobs. So it was my responsibility then, and I said at the time that weighed very heavily, and right now it weighs heavily on me."
Inflation was certainly one of the issues - though not the only one - on the minds of big players in the automotive sector as they met for the annual conference of their industry body, the SMMT.
At that event, the sector challenged the UK's main political parties to provide the conditions which ensure the future of the the key industry. SMMT's five-point plan for the future of the industry comes as new doubts surface over the Britishvolt scheme in Northumberland, as well as broader concerns over the transition to electric vehicles.
On the sales side of the automotive sector, car dealership giant Vertu last week warned of future uncertainty driven by inflationary pressures despite seeing a hike in new car sales volumes.
Bosses at the Gateshead company, which has a network of 189 sales and aftersales outlets across the UK, said they remained optimistic for the future, having seen new vehicle supply improve whilst constraints in used vehicle supply continue, aiding used vehicle values and gross profit. |
