Mark Langabeer (Hastings and Rye Labour member) watched the recent ITV/ITVX documentary (see here).
ITV’s Tonight Reporter, Kate Quilton, investigates the causes of rocketing food prices – the largest increase since 1978. Some basic items have increased by 50 % and the average is reported to be 19-2%.
There are many reasons for the hike in food prices: pandemic, war, Avian flu, labour and transport costs, Brexit, and profiteering by the large supermarkets. The programme devoted some of its time to shopping more cheaply. Buying frozen instead of fresh food was one example.
The Tories and the Bank of England have argued that prices will fall. James Walton, a chief economist, believed that prices would stabilize, Unfortunately, however, it will take time before wages catch up so it would appear that the cost-of-living crisis will continue for some time.
Quilton interviewed Professor Tim Lang of Food Policy, City University, London. He believed that prices would fall but not at the rate predicted by the Bank of England. He adds that if you compare food prices with most European states, the cost of food is historically less but wages are lower. It is that, rather than high prices, which is the real problem.
In my opinion, there are two conclusions that can be drawn from the Tonight Programme (recorded last Thursday). The cost-of-living crisis will continue for the foreseeable future or a slump.
It seems perfectly reasonable that a minimum wage of £15 per hour is included in Labour’s Manifesto pledges at the next General Election
