Reminders of when Boris Johnson promised cheaper household gas bills if Brits backed Brexit have been making the rounds on social media today on the back of new inflation figures published today.
The Office for National Statistics (ONS) said the rate of Consumer Prices Index (CPI) inflation rose from 4.2 per cent in October to 5.1 per cent in November – the highest since September 2011 and a bigger leap than feared.
The data also revealed that the Retail Prices Index (RPI) measure of inflation soared to its highest level for more than 30 years – hitting 7.1 per cent last month, up from 6 per cent in October.
Mounting cost-of-living crisis
Laying bare the mounting cost-of-living crisis facing Britons, the ONS reported surging prices across a raft of goods and services, including for fuel, energy, cars, clothing and food.
Figures showed that petrol prices jumped to the highest ever recorded – 145.8p a litre last month – while the cost of used cars also raced higher due to shortages of new motors as supply chain issues continue to affect the economy.
Households are also coming under increasing pressure from steep hikes in gas and electricity costs.
The UK’s gas market price climbed to 296.35p a therm on Monday, just below the record closing price of 298.475p on 5th October, according to ICIS data.
In May 2016, a month before the referendum on Britain’s EU membership, Boris Johnson and Michael Gove today promise to scrap VAT on household energy bills if Britain backed Brexit.
Writing exclusively for the Sun, the Tory “Out” campaigners promised that: “Fuel bills will be lower for everyone.”
“In the first cash sweetener of the EU Referendum campaign, they argue that leaving the EU will allow ministers to bin the “unfair and damaging” £2 billion a year tax on gas and electricity prices,” they added.
Labour’s Gisela Stuart also signed the piece, which argues that leaving the EU will also boost wages and allow the UK to regain control of our borders.
It says: “We believe working people will be better off if we leave the EU.
“The NHS will be stronger, class sizes smaller, and taxes lower.
“We’ll have more money to spend on our priorities, wages will be higher and fuel bills will be lower.
“Leaving the EU is a great opportunity for us to take back control of our borders, our economy and our democracy.”