Following news that annual retail sales have fallen for the first time since 2013, Liberal Democrat leader Vince Cable said:

“High inflation is hitting people’s pockets. With food prices soaring, the weekly shop has become a source of trepidation for families across the country. The uncertainty caused by Brexit is hurting the economy and British businesses.

“Strained finances mean the Chancellor has little room for manoeuvre in next week’s Budget, but he can ease the burden on the most vulnerable through implementing our plans, such as reversing cuts to Universal Credit and ending the public sector pay cap, so wages increase in line with inflation.”