Jeremy Hunt Puts Economy Ahead of Consumer Welfare in Wake of Soaring Inflation
Jeremy Hunt, the Chancellor of the Exchequer, has stated that he is willing to accept a recession if it helps to curb inflation.
He believes that reducing the cost of essential goods is the key to sustainable growth and has stated that he supports the Bank of England's decision to raise interest rates.
The current inflation rate in the UK stands at 8.7% and food prices are surging at the fastest rate in nearly 45 years.
Despite recently falling below 10%, the consumer price index rate of inflation has remained high and the opposition Labour Party has criticized Hunt's stance on the issue.