The Live Wire



Press Release

Duncan Smith issues inflation warning

3 October 2011

Older people could suffer as a result of high inflation levels, the work and pensions secretary has warned.

Iain Duncan Smith said he is very concerned about the potential impact inflation could have on those who rely on their savings to get by.

Plans to create growth in the UK and control debt have forced the problem of inflation 'into the background', he said during a Conservative party conference fringe event.

During the meeting, which conservativehome.com hosted, Mr Duncan Smith stated: 'I absolutely accept that too many people with finite savings will be losing out because of the cost of this. The cost of living is rising for people who have no income or no possibility of earning money.'

However, the politician added that the future of young people could be put in jeopardy if action is not taken to reduce the UK's national debt.



Press releases, papers and documents published on this page are the intellectual property of an organisation unrelated to Central Lobby. We promote their parliamentary and political campaigning activities as they are subscribers to the Central Lobby service.

As such, Central Lobby does not edit, endorse, or attempt to balance the opinions expressed on this page. The content of press releases and other such types of content are the responsibility of the originating organisation.

Age UK

Age UK

More from Dods

© Dods Parliamentary Communications Ltd