Rishi Sunak is to blame for high inflation

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Rishi Sunak is to blame for inflation being so high, one of Liz Truss major supporters has said.

Sir Ian Duncan Smith, who is backing the Foreign Secretary to be leader, today said that the then-Chancellor signed off moves which have pushed up inflation.

It is the latest in a series of attacks by Ms Truss and Mr Sunaks supporters over each candidate’s economic policies.

Here in the UK we have to bear some of the blame for the fact that we have inflation rising on top of that [the pandemic and war in Ukraine]he told Skys Sophy Ridge.

Thats down to the Bank of England and the Treasurys failure over monetary policy.

Over a year ago the bank kept printing huge sums of money which has inflated the economy, as well as keeping interest rates low. It was the Treasury that signed off on that money printing, the Chancellor no less.

Before people say no its independent, the Treasury has the right to say no to the money printing bit and they didnt. That has fueled inflation.

The Chancellor signed off on the extra money that was printed. The Treasury has the right to say no and between them and the bank quite frankly I think they got that one wrong.

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