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| Source: NIKLAS HALLE’N / AFP |
In his inaugural address in the year, the British Prime Minister, Rishi Sunak, of the Conservative Party, declared that his government’s priorities are to reduce the inflation rate during 2023 and stimulate economic growth. “I expect we can get to half the rate of inflation by the end of this year to ease the cost of living and give people financial security. Second, let’s grow the economy, create better-paying jobs and opportunities across the country. Our goal is to get inflation back where it belongs, and it’s a goal The 2% inflation we set for the Bank of England,” Sunak said.
The Office for Budget Responsibility (OBR), which is responsible for overseeing the UK’s public accounts, estimated last November that inflation would fall to 9.1% in December and 7.4% in 2023. The kingdom slowed to 10.7% in November from 11.1% in October. , and it is still the highest in 40 years. However, the Prime Minister stated that the value may fall further this year, to a level close to 5%, after he also announced his intention to develop and expand the British economy, which contracted by 0.3% in the third quarter of 2022.
In terms of GDP, according to government estimates, it should decline by 1.4% in 2023, before increasing by 1.3% in 2024.
In addition, Sunak has indicated that he intends to reduce public debt, reduce the waiting list for public health services and introduce legislation to combat illegal immigration across the English Channel that connects France with the United Kingdom. “There are no gimmicks or ambiguities, either we will comply or we will not. We want to rebuild trust in politics through action. I ask you to judge us by the efforts we will make and the results we will achieve,” he affirmed.
The British Prime Minister’s statements come at a time when he is under intense pressure to solve the problems that led to the recent strikes in public services, such as transport and health, and waiting for access to emergency rooms in hospitals.
In a poll released on December 30 by the polling firm People Polling, the Conservative Party has just 19% of voting intentions against 45% for Labor, its main opponent.
Charlotte Whitmore is a contributor at Mediarunsearch.co.uk, covering a broad range of topics including news, politics, business, technology, sport, entertainment, and lifestyle. She focuses on delivering clear, balanced reporting and practical information that helps readers stay informed about current events and emerging developments. Her work highlights stories that matter to everyday audiences, with an emphasis on accuracy, relevance, and accessible journalism that keeps readers connected to the issues shaping the UK and beyond.