Rishi Sunak pledges to halve inflation in 2023

Prime Minister Rishi Sunak has pledged to halve inflation and bring down NHS waiting lists, as he set out a fresh vision for his premiership.

In his first major speech of 2023, the Prime Minister promised to deliver “peace of mind” to the public, even as his Government struggles with the ongoing disruption of strike action and cost of living crisis.

He said he will cut the UK’s rate of inflation from more than 10% to 5%, return the economy to growth by the end of 2023 and make sure the national debt shrinks.

"First, we will halve inflation this year to ease the cost of living and give people financial security", Sunak said in his speech in East London today.

"Second, we will grow the economy, creating better-paid jobs and opportunity right across the country. Third, we will make sure our national debt is falling so that we can secure the future of public services."

He concluded his speech: “So, five promises. We will: Halve inflation, grow the economy, reduce debt, cut waiting lists, and stop the (migrant) boats.”

The government is expected to set out its next steps in the next few days, with a key focus on strikes.