𝓤𝓷𝓲𝓽𝓮𝓭 𝓝𝓮𝔀𝓼

Prime Minister Sir Keir Starmer acknowledged rising bills were putting pressure on household finances but insisted wage increases would leave people better off.

He told Sky News: “I think for most people, they would say the cost-of-living crisis is ongoing, and they feel the pressure financially.

“That’s why it’s so important we make good on our pledge that people would feel better off and the national living wage going up today by an average of £1,400 is going to affect millions of people, so in their pay packet this month, and obviously for months to come, they will now be getting more money.

“That’s alongside the other work we’ve done – interest rates have been cut three times since we’ve had a Labour government, so anybody with a mortgage knows that the rates are coming down, and of course, on average, wages going up now more quickly than prices.

“I acknowledge that with bills coming in, people see that rise and that is a pressure. That is why it’s so important we deliver on the national living wage, to make sure people are better off – £1,400, quite a significant amount of money for millions of workers.

“Making sure that interest rates are coming down not going up, that makes a big difference, wages going up higher than prices.”