SNP Warns of Brutal Budget as Inflation Hits Five-Month High
The UK is bracing for another 'brutal budget', according to SNP Westminster leader Dave Doogan, who claims Labour ministers are 'softening people up' for cuts and tax rises.
The warning comes after Prime Minister Andy Burnham admitted that the upcoming Budget next month will be 'challenging'. The SNPs concerns were triggered by the latest official statistics showing Consumer Prices Index (CPI) inflation reached a five-month high of 3.1% in August, driven by elevated petrol and diesel costs.
The Bank of England warned this week that volatile global energy prices could push inflation even higher, making it 'more likely' that interest rates will need to rise to bring inflation back down to its 2% target.