When the PM admits that inflation is a tax…
“Fight against inflation
British Prime Minister Rishi Sunak faced flack as the conference kicked off Sunday after telling the BBC that reducing inflation was the best tax cut he could offer.
“Inflation is a tax. It’s a tax that impacts the poorest people the most,” he said. Inflation — the rate at which the cost of goods and services rise — is not a tax, though it can function as such, with higher prices eating into people’s spending power.
Hunt sought to clarify the prime minister’s comments Monday, saying that reducing inflation would be a “boost to incomes,” ensuring that take-home pay is higher than it would be otherwise.”
