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Peter Black and South Wales West Liberal DemocratsRepresenting Aberavon, Bridgend, Gower, Neath, Ogmore, Port Talbot, and Swansea |
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Inflation rise a 'wake-up call for Labour' says candidate
January 16, 2007 12:00 AM
Welsh Liberal Democrat Councillor and Gower Assembly candidate Nick Tregoning has described yesterday's news that inflation has hit 3% as a wake-up call for Labour in Westminster and Cardiff, and is keen to see urgent action to help those who may find themselves in trouble as a consequence.
The Consumer Prices Index (CPI) has hit 3% this month, up from 2.7% in December, mainly as a result of the increases in fuel prices. The CPI is one of a number of measures of inflation, all of which show upward movement. The perhaps better known Retail Prices Index (RPI) is presently at 4.4% which is a 15 year high.
"Whatever measurement you use, inflation is on the up with all that means for people on fixed or low incomes, like pensioners," said Cllr Tregoning. "Families affected by redundancy or unemployment and already in debt could fall into serious mortgage arrears leading to growing numbers of repossessions. Labour must urgently enter into talks with the banks to ensure there is a proper code of conduct governing the way that mortgage lenders deal with arrears, so that rising interest rates do not lead to rising numbers of people losing their homes. Homelessness ruins lives and costs Wales a fortune. Having a code of conduct that prevents it makes good sense all round."
"These inflation figures also show energy costs are eye-wateringly high with gas up by 31.9% and electricity by 21.7%," he continued. "Such increases hit the most vulnerable in our communities the hardest. It always seems to be the case that energy companies are quick to pass on increases, but slower to pass on any decrease in the cost they pay. Well, wholesale energy prices have fallen sharply recently, so when can we expect the prices we all pay to do the same? Again, it is for Labour to take urgent action to make sure energy companies play fair by their customers."
"Labour Assembly Government Ministers in Cardiff should be putting maximum pressure on their friends in Westminster to sort these things out"
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