The boss of frozen food chain Iceland and the government’s cost of living advisor warns ‘a freight-train of inflation will hit in the Autumn’
Now that the dust begins to settle on Monday’s news from Downing Street, I want to send a warning to Westminster: the UK cannot afford for its politicians to take their eyes off the ball.
When I visit our Iceland stores, people aren’t talking about leadership speculation. Because they simply don’t care. They are asking why their bills are still so high and whether anyone in politics is focused on the practical things that would actually help them.
Businesses and consumers alike need stability to breed confidence. Both are damaged when politics turns in on itself. It really is time to burst the Westminster bubble and focus on the issues that matter around the kitchen table.
In my five months as Cost of Living Champion, I’ve taken a hard look at the issues that are really hurting consumers across the board. I have pulled this all together in a paper addressed to the Government that includes a clear action plan to help household budgets.
This focuses on pulling the levers available right now: lower energy costs, action on household debt, tougher rules on rip-offs, better access to affordable credit, and getting young people reunited with money that is already theirs.
I approached these solutions with the pragmatic approach I have long adopted in business: ensuring focus, keeping things simple, and moving as fast as we can.
The Government has begun work to adopt those measures on which it can move quickest and where political authority is needed, to make decisions. I need the candidate or candidates who now fancy themselves in the top job to sit up and take notice of this agenda – to wake up and smell the coffee.
Now is not the time to duck tough decisions or to kick the can down the road. Because households and businesses up and down the country will have to grapple with a freight-train of inflation that will hit in the Autumn on everything from food to heating.
So, I would say that the next Prime Minister: think customer first. Families need lower bills, fairer markets and practical help before winter. This is the top priority and I warn against any language that hints at damaging delays – no resets, reviews or empty rhetoric.
Take my day job at Iceland as an example, where we have just guaranteed that 750 lines will be available for £1 or less from next week. Yes, many businesses are struggling at the moment, and the easy solution would be to raise prices across the board, but I urge leaders to consider where they can take a step to make things more affordable, especially if you’re dealing with essential goods. This is what I mean by thinking customer-first.
Speaking of business, the new PM should also fully commit to the fact that only economic growth can properly break us free from the need for short-term cost of living interventions. And it is only business that can grow the economy. Because businesses large and small, up and down the country, are the ones who invest, create jobs and pay tax. It’s vital that we never lose sight of that. Ultimately, I believe that the groundwork has been done but there is a crying need for urgency in action. I hope my work so far makes this clear.
