Catherine McKinnell MP, Labour’s Shadow Treasury Minister, responding to today’s inflation figures, said:

“This fall in the inflation rate is welcome, but the squeeze continues as prices are still rising faster than wages. Working people facing this cost-of-living crisis are on average £1,600 a year worse off since David Cameron came to office.

“The Budget was a totally missed opportunity as there was no real action to deal with the cost-of-living crisis. In contrast, Labour’s plan will ensure we earn our way to higher living standards for the many and not just a few at the top.

“Labour will freeze energy bills until 2017, make work pay by expanding free childcare for working parents and get at least 200,000 homes built a year by 2020. We also want to introduce a lower 10p starting rate of tax to help 24 million people on middle and lower incomes.

“By opposing all these measures and giving a £3 billion tax cut to people earning over £150,000 David Cameron has shown he’s out of touch and only stands up for a privileged few.”