SNP Westminster leader Stephen Flynn has called for emergency financial support from the UK Government, warning that the country is heading towards a 'cliff edge' without action. His plea follows warnings from the Bank of England about the state of the UK economy, with potential inflation peaking at 6.2% and not returning to the 2% target for four years in a worst-case scenario.
Flynn accused Prime Minister Sir Keir Starmer of being 'asleep at the wheel' during the cost-of-living crisis, stating that 'broken Brexit Britain is at crisis point'. He argued that the Labour Government has failed to provide urgent help to families, farmers, and businesses, despite months of SNP warnings.
The Bank of England’s Monetary Policy Committee held interest rates at 3.75% but noted risks from the Middle East conflict. Flynn said the impact on inflation and interest rates could be 'devastating', leading to rising mortgage rates, food prices, and fuel costs unless the Government acts.
Flynn demanded an emergency financial package, including removing VAT on fuel, scrapping the planned fuel duty hike, and introducing a Household Energy Price Cap to lower bills. He contrasted the SNP Government in Scotland, which he said is 'laser-focused' on cost-of-living support, with Labour's lack of a plan.
Chancellor Rachel Reeves responded that the Government is focused on keeping costs down without repeating past mistakes that led to higher inflation. She said the UK entered the conflict in a stronger position due to the Government's choices to build economic stability and energy security.
