Karin Smyth, MP for Bristol South, has called for a General Election now following another week of Tory chaos and interest rate rises.
On Thursday 3 November the Bank of England was forced to increase the interest rate base rate 0.75 per cent to combat inflation which is running rampant in the UK economy. This marks the single biggest rise in interest rates since the 1980s. Interest rates now stand at 3 per cent. Following the announcement, the pound sterling fell 2 cents against the dollar showing how turbulent the economy has become since the Conservative Government’s Mini Budget.
As well as announcing the highest single day increase in interest rates, the Governor of the Bank of England produced forecasts showing the UK has likely entered a recession. Not only that, but the Governor predicts this recession will last two years: making it the longest recorded recession in history for the UK.
Away from economic mismanagement the Tory Government has overseen a crisis in the Home Office with only 4% of asylum applications being processed, an asylum processing centre in Kent becoming so overcrowding that Victorian-era diseases of scabies and diphtheria which led the Chief Inspector of Borders and immigration telling MPs he was “speechless” by what he saw.
During Prime Minister’s Questions, the Prime Minister couldn’t answer who was to blame for the mess following the statement from his own Home Secretary saying the immigration system was broken.
Karin Smyth, MP for Bristol South, said:
“On all fronts the Tory Government is failing. From maintaining strong and compassionate borders to managing the economy for the benefit of everyone, the Tories just stumble from one crisis to another. We have now lived through yet another week of Tory chaos where the country is dragged down even further.
“I’m deeply concerned about such a drastic hike in interest rates and what it will mean for businesses and families in Bristol. The mess we are facing was created in Downing Street and is being paid for by residents in our city. It’s clear that the Government has run out of road and it’s time for a General Election.
“For 12 long years the Tories have taken decisions which have run the economy, public services and our security into the ground. From cutting police officers to starving the NHS of a workforce plan they just done get it. A Labour Government would deliver an economy that works for you. Unlocking our country’s potential and securing our public services for future generations.”