Shabana Mahmood MP, Labour’s Shadow Treasury minister, responding to today’s inflation figures, said:
“Plummeting global oil prices are the reason why the rate of inflation is falling here in Britain. But wages continue to be sluggish and the squeeze on living standards since 2010 means working people are £1600 a year worse off under this government.
"And falling energy costs are still not being fully passed on to consumers. That’s why Labour will bring in new powers for the regulator to cut bills and force energy firms to pass on savings to consumers. We’ll put our plan to a vote in Parliament tomorrow and urge Tory and Lib Dem MPs to drop their opposition to our reforms.
"Labour’s economic plan will also ensure we earn our way to higher living standards for all, not just a few at the top. Our plan to tackle the cost-of-living crisis and for more good jobs is also a key part of our tough but balanced plan to get the deficit down.”
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