The Conservatives have utterly failed to get a grip on the cost-of-living crisis

Sarah Olney addresses Liberal Democrat Spring Conference 2023 on our plans to level up the economy after years of Conservative mismanagement.

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Interest rates, inflation, commodity prices, wage rates and fuel costs are part of our everyday conversation now in a way that they haven’t been since the 70s.

We even all became experts on bond yields for a week last autumn, and tracking the exchange rate against the dollar was briefly a national pastime.

Liz Truss’s lasting and only gift to this nation is that we all now know what a liability driven investment is.

But I’m afraid that this elevated interest in the economy means that people are worried.

They are worried about paying the bills, they are about the cost and availability of food in the shops, and about the value of their income against the rising cost of living.

And how could they not be worried?

In the last 12 months, inflation has reached levels I’ve not seen in my lifetime, interest rates have gone up to 4%, having been below 1% for nearly 15 years, and, even with the Energy Price Guarantee, energy bills have doubled.

Not only has this Government failed to get a grip of the cost-of-living crisis. They’re hitting hard working families with unfair tax rises. Whilst at the same time leaving our schools and hospitals stretched to breaking point.

This is the true cost of the cost-of-living crisis under the Conservatives.

The Liberal Democrats are the party of equality, opportunity and inclusion. We understand that if we want to improve Britain’s prospects, we have to start with those on the lowest incomes.

We need a Government that will rally together the public and private sector to get the most out of our people, our natural resources and all the other advantages that the UK has to offer.

To deliver a future that’s fairer, greener and more prosperous for everyone, all across these islands.

Thank you Conference.