“Bringing our economy back on track after 14 years of Tory chaos was never going to be straightforward. A volatile international context is not making this job any easier.
“After years of falling living standards, consumer spending is still very weak.
“The Government acted to boost household incomes at the Budget – it raised minimum wage, benefitting millions across the country, cut child poverty and funded energy payments to support living standards.
“The Bank of England should now recognise the impact that the living standards crisis has had on families’ and businesses’ finances and spending - and must deliver further cuts in interest rates next week”