// PM Rishi Sunak has vowed to slash inflation in half this year
// Sunak also pledged to grow the economy and reduce national debts
Prime minister Rishi Sunak has pledged to halve inflation in 2023 during his first major speech of the year.
Sunak outlined five key priorities on Wednesday including reducing debts and supporting people with the cost of living.
Speaking yesterday, Sunak said he plans to slash the UK’s rate of inflation from its current rate of 10.7% to 5%, as well as return the economy to growth by the end of the year.
“First, we will halve inflation this year to ease the cost of living and give people financial security.”
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This is in line with The Bank of England’s prediction it made in December that inflation would drop sharply in the second half of 2023.
“Second, we will grow the economy, creating better-paid jobs and opportunity right across the country,” Sunak said.
“Third, we will make sure our national debt is falling so that we can secure the future of public services.”
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