Sinn Féin MLA Colm Gildernew said today that workers and families continue to be punished by calamitous economic decisions made by successive Tory governments and the fall-out from Brexit.

The party’s finance spokesperson was speaking after the publication today of the latest inflation figures.

Colm Gildernew said:

“The 8% inflation rate continues to push families to the brink. 

“Wages have simply not kept pace with inflation and families remain under severe pressure as the cost of food has risen by 17.9% over the last year whereas wages fell in real terms. 

“The inflationary increase on mortgage repayments will also hit families with yet another increase expected before the end of July.

“We have called out the British Government for allowing banks to increase mortgage rates while refusing to increase savings rates to the same degree.

“People are being punished as a direct result of calamitous economic decisions by successive Tory governments, whether it was Liz Truss’s disastrous economic policies or the fallout from Brexit. 

“The Tories are piling on the pain for families by cutting our frontline public services and denying fair wages to workers. 

“Sinn Féin will continue to press for support for workers and families and for large energy giants and those who have made unscrupulous profits from the cost of living crisis to be taxed fairly and the proceeds invested into our public services.”