Christopher Pincher Welcomes Latest Inflation Figures

Tamworth’s MP, Christopher Pincher, welcomed figures released this week, which shows, for the first time since the recession, wages are rising faster than inflation.

Figures published by the ONS show that the average wage in Britain increased by 1.7% up from 1.4% in January. At the same time, inflation continues to fall for the 6th consecutive month to 1.6%.

The figures released this week shows that wages are increasing faster than the cost of living for the first time in 6 years.

Responding to these figures Mr Pincher said, “This is good news for my constituents. For the first time in 6 years, average earnings increases outstrip the effects of inflation, a further sign that this economic recovery is going in the right direction and our long-term economic plan is working.

“This government is helping hard working people ensure they keep more of their money and this news coupled with the recent fall in local unemployment and the tax threshold increasing to £10,500 helps ensure families and individuals have more money in their pockets to spend on what they want.

“However we must not become complacent as our economy is still healing. We still have some way to go before we see wages increase at the rate of pre-recession levels and we still must eliminate Labour’s huge budget deficit so we live sensibly within our means.

“We must continue on our long term economic plan of keeping taxes low, encourage businesses to offer more jobs and manage our spending. We cannot tax or spend our way to growth.”