ISME: Urgent action needed on inflation
Business organisation ISME has criticised the Government following today’s announcement that inflation has remained at a three-year high of 3.9%, well in excess of the EU average.
According to ISME chief executive Mark Fielding, the high rate of inflation will continue to create serious difficulties for the business sector.
“It is obvious, when studying the figures, that the Government have allowed inflation to run out of control and have been significant contributors in their own right, particularly through the exorbitant increases in local charges, energy and health over the last number of years,” said Fielding.
“Since the start of this year, inflation has increased by one-third and will continue to rise over the next number of months, unless urgent remedial action is taken.
“The Government’s ‘don’t blame us - head in the sand’ policy is doing untold damage to future business prospects.
“If the government addressed its own cost influence, the headline rate could potentially reduce by 1.5 percentage points, bringing the inflation rate down to below the EU average.”
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