{"id":1395696,"date":"2022-03-23T08:30:43","date_gmt":"2022-03-23T12:30:43","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1395696"},"modified":"2022-03-23T08:30:47","modified_gmt":"2022-03-23T12:30:47","slug":"uk-sees-inflation-hit-30-year-high-as-tory-government-set-to-plow-on-with-tax-hikes","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/uk-sees-inflation-hit-30-year-high-as-tory-government-set-to-plow-on-with-tax-hikes\/","title":{"rendered":"UK Sees Inflation Hit 30-Year High as Tory Government Set to Plow On with Tax Hikes"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">32<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fuk-sees-inflation-hit-30-year-high-as-tory-government-set-to-plow-on-with-tax-hikes%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1395696&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><\/div>\n<p class=\"subheading\">Britain has seen its highest level of annual inflation in 30 years, while the country\u2019s government appears to remain set to move forward with major tax hikes.<\/p>\n<p>The United Kingdom\u2019s annual rate of inflation hit its highest point in 30 years in February, rising to 6.2 per cent.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>According to the Office of National Statistics (ONS), this is the highest level seen since 1992, with inflation reaching a previous high of 5.5 per cent in January.<\/p>\n<p>In a report <a href=\"https:\/\/www.ons.gov.uk\/economy\/inflationandpriceindices\/bulletins\/consumerpriceinflation\/february2022\">published<\/a> on Wednesday, the ONS noted that the record inflation was largely down to the increased cost of furniture, household goods, and \u201crecreation and culture\u201d, though increased food and fuel costs were also cited throughout the report.<\/p>\n<p>\u201cInflation rose steeply in February as prices increased for a wide range of goods and services, for products as diverse as food to toys and games,\u201d <a href=\"https:\/\/twitter.com\/ONS\/status\/1506528557274738689\">said<\/a> Grant Fitzner, Chief Economist of the ONS, regarding the inflation hike.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>\u201cClothing and footwear saw a return to traditional February price rises after last year\u2019s falls when many shops were closed,\u201d he continued. \u201cThe price of goods leaving UK factories has also been rising substantially and is now at its highest rate for 14 years.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Commenting on today\u2019s inflation figures for February, ONS Chief Economist, Grant Fitzner said\u2b07\ufe0f <\/p>\n<p>(1\/4) <a href=\"https:\/\/t.co\/JAYnDzwk4o\">pic.twitter.com\/JAYnDzwk4o<\/a><\/p>\n<p>\u2014 Office for National Statistics (ONS) (@ONS) <a href=\"https:\/\/twitter.com\/ONS\/status\/1506528557274738689?ref_src=twsrc%5Etfw\">March 23, 2022<\/a><\/p>\n<\/blockquote>\n<p><a href=\"https:\/\/www.breitbart.com\/news\/boe-agrees-third-straight-rate-hike-as-inflation-soars-2\/\">Driven<\/a> in some part by the ongoing war in Ukraine, UK citizens \u2014 like many across the world \u2014 are facing steep increases in the cost of living, mainly down to issues involving energy and food insecurity.<\/p>\n<p>For example, while dropping in recent days, the price of petrol and diesel <a href=\"https:\/\/news.sky.com\/story\/fuel-prices-drop-slightly-for-first-time-this-month-12572541\">remains<\/a> extremely high, with consumers still being expected to pay around \u00a31.79 per litre for diesel, or around $8.95 per gallon.<\/p>\n<p>However, despite these mammoth prices, the British government appears reticent to help, with the country\u2019s Chancellor of the Exchequer, Rishi Sunak seemingly <a href=\"https:\/\/news.sky.com\/story\/spring-statement-chancellor-rishi-sunak-to-stand-by-hardworking-families-amid-cost-of-living-crisis-when-he-delivers-mini-budget-12573000\">refusing<\/a> to pull back on promised tax hikes which are due to imminently hit the purse strings of the general public, though reports do indicate that Sunak may announce some measures later today which will aim to reduce the financial strain on British households.<\/p>\n<figure id=\"M-ROS-B3\" class=\"a8d adSo\"><\/figure>\n<p>This may include a slight drop in fuel tax, though how effective such a measure will be in the face of fuel insecurity remains to be seen.<\/p>\n<p>However, what does not appear to be changing is the Chancellor\u2019s planned increase of Britain\u2019s national payroll tax, which he <a href=\"https:\/\/www.breitbart.com\/europe\/2022\/01\/30\/not-so-conservative-boris-plows-ahead-with-massive-tax-hikes-despite-soaring-cost-of-living\/\">announced<\/a> alongside UK Prime Minister Boris Johnson earlier in the year.<\/p>\n<p>While Sky News reports that there may be a raising of the threshold for those eligible to pay the tax, its increase will represent a sizable loss in funds for many families already faced with some of the worst inflation they have ever seen.<\/p>\n<p>\u201cWe must go ahead with the health and care levy [payroll tax],\u201d the Chancellor previously wrote. \u201cIt is progressive: the burden falls most on those who can most afford it. Every penny of that \u00a339 billion will go on crucial objectives \u2014 including nine million more checks, scans and operations, and 50,000 more nurses, as well as boosting social care.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Not-So Conservative: Boris Plows Ahead with Massive Tax Hikes Despite Soaring Cost of Living<a href=\"https:\/\/t.co\/xkVJd3cffU\">https:\/\/t.co\/xkVJd3cffU<\/a><\/p>\n<p>\u2014 Breitbart London (@BreitbartLondon) <a href=\"https:\/\/twitter.com\/BreitbartLondon\/status\/1487802789325586432?ref_src=twsrc%5Etfw\">January 30, 2022<\/a><\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Britain has seen its highest level of annual inflation in 30 years, while the country\u2019s government appears to remain set to move forward with major tax hikes. The United Kingdom\u2019s<\/p>\n","protected":false},"author":297,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1395696","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1395696","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/297"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1395696"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1395696\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1395696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1395696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1395696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}