Commenting on inflation figures showing CPI up to 2.9 per cent in July, TUC General Secretary Paul Nowak said:
“The Prime Minister has rightly been straight out of the blocks with measures to tackle the cost of living.
“But with inflation ticking up because of rising energy bills – and no end in sight to Trump’s illegal war in Iran – we are going to have to see more government action to support households in the coming months.
“Ministers should start by introducing a permanent social tariff to cut energy bills for the majority of households – paid for by taxing banks’ enormous profits.
“While higher interest rates have meant mortgage misery and bigger bills for the rest of us, the big banks have been rolling in it. Taxing bank profits to cut bills is plain common sense.”