Stevenson Voices Concern Over Inflation Impact on Pensioners

Following the release of the Bank of England quarterly inflation report, Banff & Buchan MSP Stewart Stevenson has voiced his concerns over the impact of soaring inflation on those dependent on savings or fixed-rate pensions.

Mr. Stevenson’s concerns follow the publication of statistics by the Office of National Statistics (ONS) which confirms that the cost of living in the UK strayed further away from the UK Government's 2% target last month.

Mr. Stevenson said:

"Those dependent on savings or fixed rate pensions are being hardest hit by the increasing cost of living, and people in rural areas like Banff & Buchan are particularly vulnerable to soaring inflation.

“With over 20% of the population in Aberdeenshire aged over 60 years, this will affect a considerable number of pensioners in my constituency and is a serious concern.

"With domestic and vehicle fuel prices rocketing and the prospect of another Treasury fuel tax rise from April, this situation is going from bad to worse.

"The SNP has already called for the UK Government to seek a derogation from fuel taxes for rural areas, similar to that secured in France, and the Chancellor must act now to protect ordinary people and businesses from unfair fuel prices.

“The recent news that water charge increases will be below the rate of inflation plus Aberdeenshire Council’s Council Tax freeze come as a huge help to families in Banff & Buchan and will mean more money in their pockets. However, the UK Government must also act to curb inflation by keeping fuel prices down."