Further benefits cuts planned as Rachel Reeves forced to find extra £1.6bn
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UK Inflation Drops to 2.8% Ahead of Spring Statement
Above: Chancellor Rachel Reeves departs 11 Downing Street to deliver her Spring Statement to Parliament on March 26, 2025. Image copyright: Photo by Carl Court/Staff/Getty Images News Getty Images
The Spin
Labour Party narrative
The falling inflation rate demonstrates the effectiveness of the government’s economic policies in controlling price pressures. In a changing and uncertain world, Labour is committed to delivering economic stability to secure people’s finances and fix the broken economy it inherited from the Conservatives.
Conservative Party narrative
When the Conservatives left power, they handed the incoming Labour government inflation at target levels. Since then, Labour’s policies have driven up the cost of living for everyday working people. With inflation expected to rise even further, the Chancellor must act urgently in her emergency budget to prevent working families from bearing the burden.