Cost of living crisis will become ‘biggest political issue for the coming decade’, warns Tory MP
The Government is facing a “big, global inflation problem”, which is likely to become “the biggest political issue for the coming decade”, Damian Green has warned.
The former deputy prime minister, who is among those campaigning to prevent the Universal Credit uplift being scrapped, told the BBC’s World at One the coming winter would be “very, very hard” for around half a million people, including 200,00 children.
He added: “We are clearly coming into a huge problem for the cost of living for people. Those who are receiving Universal Credit, many of whom are in work and working as hard as they can to keep families out of poverty, are the one who will be most hit by the upcoming problems with inflation and energy prices.”
The MP for Ashford noted that the cost of living was “an argument we have forgotten about because we have now had a generation of low inflation”, but noted “it can be the biggest political issue out there.”
He added: “The paradox is that many of us thought we would come out of the pandemic with a big employment issues and a very sluggish economy.. [but] we are facing a big global inflation problem, which I suspect will become the biggest political issue for the coming decade.”