Rishi Sunak has attempted to project calm in the fight against stubbornly high inflation by insisting he is “totally, 100% on it”.
The prime minister was speaking to workers at a warehouse in Dartford as the Bank of England raised interest rates for the 13th month in a row, a day after data showed the downward trajectory of inflation has stalled.
The base rate hike to 5% will cause misery for homeowners who have to refinance their mortgages in the coming months, and raised fears that the British economy is heading for a recession.
But multi-millionaire Sunak, who as the richest MP in parliament probably doesn’t have a home loan, offered words of reassurance as he literally rolled up his sleeves to address Ikea staff.
He said: “I’m here to tell you that I am totally, 100% on it, and it’s going to be OK, and we are going to get through this.”
The government has ruled out financial support for struggling mortgage holders – arguing it risks fuelling the inflation it is trying to combat – and has left the heavy lifting to the independent Bank of England, whose only lever is nudging the cost of borrowing up and down.
Not many on social media were impressed with the language, with one Twitter user suggesting: “We basically have Kendall Roy as prime minister.”
Quite strong “I forgot about this Zoom meeting but need something to say” vibes here pic.twitter.com/LlTcMD9c6i
— Michael Savage (@michaelsavage) June 22, 2023
100% on it https://t.co/6FTAzVDuTJ
— Jess Phillips MP (@jessphillips) June 22, 2023
So the Prime Minister Rishi Sunak who’s worth over £700 million is expecting us ordinary people to just trust him as he’s “totally 100% on it and it’s going to be okay”.
— Freddie (@FreddieBailey96) June 22, 2023
We basically have Kendall Roy as Prime Minister https://t.co/N1Pbtc38ZF
— Andrew McQuillan (@ajmcq1993) June 22, 2023
I was becoming rather concerned about the cost of living crisis, but now that Sunak has confirmed that he’s ‘100% on it’ I can clearly see that I’ve absolutely no need to worry. The land of affordable milk and honey is now just a short unicorn ride away.
— Keith Burge (@carryonkeith) June 22, 2023