Wednesday, June 15, 2011
The reality about Labour's inflated image
Thanks to Richard Morris for pointing this out.
A new report shows the effects of inflation hit poor people hardest. The Institute for Fiscal Studies found that the poorest had seen inflation of 4.3% between 2008-10, compared to 2.7% for the rich. The Director of the IFS Paul Johnson told Today: "The less well off spend more of their money as a proportion of their total budgets on things like food and fuel than the better off households. Food and fuel – by which I mean gas and electricity – have risen in price quite a lot more quickly than other things."
Note the dates. Well, as we know, New Labour was always "incredibly relaxed" about the very rich. Just a pity they were equally relaxed about the very poor.