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  "path": "/politics/inflation-rate-rachel-reeves-warned-britain-fragile-economic-state",
  "publishedAt": "2026-03-25T09:26:54.000Z",
  "site": "https://www.gbnews.com",
  "tags": [
    "Wes Streeting declares that removing 'antisemitic poison' from Britain takes 'political leadership'",
    "Nigel Farage drops pledge to nationalise water and energy after saying it would 'cost less'",
    "Rachel Reeves responds to petrol and diesel prices as Labour slashes red tape",
    "The GB News Editorial Charter"
  ],
  "textContent": "\n\n\nSir Mel Stride has dismissed Government attempts to blame the Middle East conflict for Britain's inflation woes, insisting ministers must take full responsibility for the economic situation.\n\nSpeaking to GB News, the Shadow Chancellor declared: \"The Government owns these inflation numbers, it's nothing to do with the war in the Middle East.\"\n\n###\n\n\n\n\nThe senior Conservative pointed to data showing the UK recorded the highest inflation rate among G7 nations last year.\n\nHe also cited International Monetary Fund projections indicating Britain would top the G7 inflation table again this year, even without factoring in Middle Eastern instability.\n\n###\n\n\n\n\nTRENDING\n\nStories\n\nVideos\n\nYour Say\n\n###\n\n\n\n\nSir Mel attributed the persistent price rises directly to ministerial decisions on taxation and public expenditure, arguing these policy choices have driven costs upward.\n\nThe Shadow Chancellor explained the mechanics behind the inflationary pressure, noting that when the Government imposes higher levies on businesses, companies inevitably transfer some of those costs to consumers through increased prices.\n\nHe added: \"If you borrow lots of money and spend lots of money, as this Government has, you stoke inflation as well.\"\n\nSir Mel warned that Britain's elevated inflation compared with other major economies has contributed significantly to the country's broader economic difficulties.\n\n###\n\n\n\n\n###\n\n\n\n\n###\n\n\n\n\nHe painted a concerning picture of the current situation, describing an economy characterised by sluggish growth and unemployment on an upward trajectory.\n\nThis combination of factors, he argued, has left the UK in a precarious position when confronting external economic shocks of the kind currently being experienced.\n\nTurning to solutions, Sir Mel outlined a series of Conservative proposals aimed at tackling the economic malaise.\n\nHe called on ministers to bring public expenditure under control, with particular focus on reducing the welfare bill by helping benefit claimants find employment.\n\n### LATEST DEVELOPMENTS\n\n\n\n\n  * Wes Streeting declares that removing 'antisemitic poison' from Britain takes 'political leadership'\n  * Nigel Farage drops pledge to nationalise water and energy after saying it would 'cost less'\n  * Rachel Reeves responds to petrol and diesel prices as Labour slashes red tape\n\n\n\n###\n\n\n\n\n###\n\n\n\n\n###\n\n\n\n\nOn energy costs, the Shadow Chancellor proposed removing carbon taxes and green subsidies from household bills, claiming this could deliver savings of approximately 20 per cent almost immediately.\n\n\"We could reduce those by 20 per cent almost overnight,\" he stated.\n\nSir Mel also urged a significant expansion of domestic energy production, calling for increased drilling operations in the North Sea to extract oil and gas reserves currently sitting beneath British waters.\n\nHe criticised Energy Secretary Ed Miliband's approach to North Sea energy, accusing him of effectively driving the industry away through excessive taxation and restrictive licensing policies.\n\n###\n\n\n\n\n###\n\n\n\n\n###\n\n\n\n\nWithout domestic production, Sir Mel warned that Britain faces the prospect of importing fuel at considerable expense while undermining its own energy security.\n\nThe Shadow Chancellor argued the Government's fundamental error lies in its preference for borrowing and taxation over spending reductions, suggesting this approach particularly harms working families.\n\n\"Instead of borrowing more money to do whatever it does to help people or taxing people more, which will hit alarm clock Britain in particular, they should be reducing Government spending,\" he said.\n\nSir Mel extended an olive branch on welfare reform, pledging that Conservative MPs would back such measures even if some Labour backbenchers refused to support their own Government.\n\n###\n\n\n\n\n\n\n\n\n\n\n**Our Standards: The GB News Editorial Charter**",
  "title": "'It's nothing to do with the war!' Rachel Reeves warned of Britain's 'fragile economic state' as inflation rates remain"
}