Paul Nowak column: ‘Working people in Britain must not pay the price for Trumpflation’

Over the past week new figures from the Office for National Statistics have shown that before Trump’s reckless and unlawful foreign conflict with Iran erupted, Britain’s economy was finally showing some green shoots. 

Inflation was easing. The jobs market was stabilising. Despite being too slow to act, the Bank of England was expected to cut interest rates further – offering long-overdue relief to millions of households and businesses battered by years of rising costs. 

Now any recovery is under serious threat. 

The shockwaves from this conflict are already being felt. Yesterday, we saw inflation jump back up – pushed up because of higher fuel prices. The IMF has warned the UK could be among the hardest hit with rising energy and food prices set to squeeze family budgets yet again. And mortgage costs – which so many hoped had peaked – risk climbing further. 

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For working people – after a brutal decade and a half – this means more anxiety, more pressure and more sleepless nights about how to make ends meet. 

And the pain won’t stop at household bills. British industry is on the front line too. 

Manufacturers – especially in energy-intensive sectors like steel, automotive and chemicals – are staring down spiralling costs that threaten jobs, investment and our industrial future. 

The government’s move to cut energy bills for some firms is welcome. But it must go further and faster and extend support to vital sectors like ceramics. If we want to safeguard jobs and rebuild our industrial strength we cannot allow viable businesses to go under because of a geopolitical crisis they had no hand in creating. 

 The longer this war drags on the greater the risk to livelihoods across the UK. That’s why ministers must keep doing everything in their power to protect working people by supporting incomes, backing industry and standing ready to act as conditions worsen. 

The TUC will be relentless in pushing for that support. 

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There are urgent lessons we can draw now. First, Donald Trump is no friend to Britain. This crisis has exposed once again that he is an unreliable and dangerous actor. His recklessness underscores the urgent need for the UK to rebuild closer, more stable trading relationships – particularly with our European neighbours. 

Second, the government has been right to target immediate support at households and businesses at the sharp end. But more is needed now – and more will be needed in future as the war goes on. That is especially the case for companies hit by a spike in gas prices – our potteries, our brickworks and other vital industries need immediate support. It’s vital that those with the deepest pockets shoulder the costs – that’s the fair thing to do and the right thing to do. 

And finally, those here at home who cheered this reckless misadventure must answer for it. Kemi Badenoch and Nigel Farage initially backed Trump’s actions. That speaks volumes about where their real priorities lie.  

Their judgment has consequences and working people are now paying the price. 

We cannot let that stand.

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