Michael Gove addresses impact of Ukraine war on Brits
We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info
Michael Gove has likened the economic fallout from Vladimir Putin’s invasion of Ukraine to the oil crisis of the 1970s during a sit down with former BBC presenter Andrew Marr. Russia’s war on Ukraine has set oil and gas prices soaring at a time when Britons had already been battling with the rising cost of living.
Mr Gove told Andrew Marr on LBC: “I think we can get through this.
“But I think there is a direct historical comparison with what happened in the 1970s.
“So after the 1973 Yom Kippur war, all prices spiked so that had an effect. There were lots of other things going on in the global economy at that time that were difficult.
“We all know, that there are real cost of living challenges. But I think it’s important in levelling with the British people to stress two things, yes, real challenges ahead. But also, we can get through this, and I think what we mustn’t do is for any reason to imagine that these challenges can overwhelm a country like ours.”
LBC Westminister Correspondent Ben Kentish noted that the 1973 oil price shock has resulted in considerable economic hardship in Britain including the “rationing on electricity.”
MORE TO FOLLOW…
Source: Read Full Article