Largest gap between rich and poor inflation for over a decade
Lord Stuart Rose, chairman of Asda and a Conservative peer, says inaction in laying out plans for dealing with the inflation crisis in "horrifying".
"I think we've been very, very slow in recognising this train coming down the tunnel. It's now here, and it's not about to run us over, it's [already] run quite a lot of people over," he tells the BBC's Radio 4 Today programme. Inflation will increase further than the 10.1% announced this morning, he predicts, and says he wants to hear more from political leaders on how to deal with the a crisis that"is not about to go away".
"Nothing is happening. We're sitting here now into the second, third, fourth month of this crisis and we’re still waiting to see what action will be taken," he says."It's horrifying.""I want to make sure we look after those people who can’t take the hit and we know who those people are. We should be dealing with it now. Some money has gone to them, some more is going to them but it will not be enough," he says.
He also references cabinet minister Sajid Javid saying he was waiting on "more facts" over the crisis.
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