Prominent Brexiteers have been reminded of the times they promised the cost of living would fall outside the EU one year hence Britain’s split from the bloc.
According to theResolution Foundation, the rising cost of living will become the dominant issue facing Boris Johnson in the new year as families face a £1,200 hit from April.
The economic think tank said families would typically face that level of impact as the energy price cap is raised and a 1.25 percentage point increase in National Insurance contributions (NICs) comes into effect.
At the same time, rising inflation means that real pay levels are set to stagnate, with real wages next Christmas forecast to be no higher than they are this year.
The Bank of England expects the inflation rate to hit about 6% by spring 2022, meaning the benefits of any wage increases are likely to be eroded by rising prices.
It makes a mockery of comments made by Jacob Rees-Mogg, Douglas Carswell and Daniel Hannan prior to the referendum.
Here’s a reminder of what they had to say: