GB News host Eamonn Holmes has taken aim at Britain's "shrinkflation" ahead of Labour's latest economic announcement, declaring Britons are "paying more for less".
Chancellor Rachel Reeves will deliver her Spring Statement in the House of Commons today, which has been predicted to slash welfare benefits and increased spending on defence.
However, Reeves has been handed an unexpected boost ahead of her announcement as new figures reveal that inflation dipped slightly in February from 3 per cent down to 2.8 per cent.
Discussing Britain's ongoing cost of living crisis ahead of the statement, Eamonn hit out at "shrinkflation" and the Government for "ignoring" the "invisible costs".
The Breakfast presenter fumed: "I don't think you can separate what's happening tax wise in your life and benefit wise from the cost of living. Yesterday I was eating a packet of Wotsits and and I realised how small it was, how ridiculous.
"There's shrinkflation everywhere - Mars bars are half the size that they used to be, so we're paying more."
Highlighting the impact on already struggling Britons, Eamonn declared that the added costs are "hitting the pockets" of taxpayers.
He told GB News: "These are invisible costs, because everything in life, whether it is a house, whether it is a car, whether it is clothes, we all have to pay for that and that is hitting our pockets.
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"Then the Government come along as if these things are invisible, as if they don't happen. And then they said, we're going to we're going to tax you more."
In agreement with Eamonn, commentator James Schneider claimed that although materialistic "luxuries" such as televisions and phones are arguably "cheaper", the "basics are becoming less affordable" for Britons.
He explained: "It's all the most important things in our lives. One of the major changes that's happened in the economy in the last 40 or 50 years is things that used to be considered luxuries are now a lot cheaper - widescreen TVs, mobile phones, etc.
"But all the things which you need to live, your rent, food, transport costs, energy bills, Wotsits, your mini Mars bars, those have all gone up a huge amount."
He added: "And the problem is, we would all be much happier if it were the other way around, if the basic things in life were affordable and then you had to save up for things which were more luxurious.
"But we've got things completely the other way around."
The Chancellor is expected to use her Spring Statement to announce around £15billion in welfare cuts, including a freeze on Universal Credit incapacity benefits for new claimants.
The Chancellor will tell Britons today: "This moment demands an active Government stepping up to secure Britain's future. A Government on the side of working people.
"To grasp the opportunities that we now have and help Britain reach its full potential, we need to go further and faster to kickstart growth, protect national security and make people better off through our Plan for Change."
Find Out More...
Chancellor Rachel Reeves will deliver her Spring Statement in the House of Commons today, which has been predicted to slash welfare benefits and increased spending on defence.
However, Reeves has been handed an unexpected boost ahead of her announcement as new figures reveal that inflation dipped slightly in February from 3 per cent down to 2.8 per cent.
Discussing Britain's ongoing cost of living crisis ahead of the statement, Eamonn hit out at "shrinkflation" and the Government for "ignoring" the "invisible costs".
The Breakfast presenter fumed: "I don't think you can separate what's happening tax wise in your life and benefit wise from the cost of living. Yesterday I was eating a packet of Wotsits and and I realised how small it was, how ridiculous.
"There's shrinkflation everywhere - Mars bars are half the size that they used to be, so we're paying more."
Highlighting the impact on already struggling Britons, Eamonn declared that the added costs are "hitting the pockets" of taxpayers.
He told GB News: "These are invisible costs, because everything in life, whether it is a house, whether it is a car, whether it is clothes, we all have to pay for that and that is hitting our pockets.
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"Then the Government come along as if these things are invisible, as if they don't happen. And then they said, we're going to we're going to tax you more."
In agreement with Eamonn, commentator James Schneider claimed that although materialistic "luxuries" such as televisions and phones are arguably "cheaper", the "basics are becoming less affordable" for Britons.
He explained: "It's all the most important things in our lives. One of the major changes that's happened in the economy in the last 40 or 50 years is things that used to be considered luxuries are now a lot cheaper - widescreen TVs, mobile phones, etc.
"But all the things which you need to live, your rent, food, transport costs, energy bills, Wotsits, your mini Mars bars, those have all gone up a huge amount."
He added: "And the problem is, we would all be much happier if it were the other way around, if the basic things in life were affordable and then you had to save up for things which were more luxurious.
"But we've got things completely the other way around."
The Chancellor is expected to use her Spring Statement to announce around £15billion in welfare cuts, including a freeze on Universal Credit incapacity benefits for new claimants.
The Chancellor will tell Britons today: "This moment demands an active Government stepping up to secure Britain's future. A Government on the side of working people.
"To grasp the opportunities that we now have and help Britain reach its full potential, we need to go further and faster to kickstart growth, protect national security and make people better off through our Plan for Change."
Find Out More...