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Rishi Sunak will tomorrow give a House of Commons statement in which he is expected to unveil fresh support for Britons struggling through the cost-of-living crisis.
The Chancellor will deliver a statement on the economy to MPs following weeks of pressure for him to step up Government help for families facing rocketing bills.
Treasury sources suggested Mr Sunak’s fresh support would focus on the poorest households.
The Chancellor recently promised that he was ‘ready to do more’ amid the inflation crisis, and vowed that ‘as the situation evolves our response will evolve’.
In a speech last week, he spoke of a ‘collective responsibility to help the most vulnerable in our society’.
But Mr Sunak also warned that an ‘unconstrained’ package of help for Britons could ‘risk making the problem worse’ by ‘pushing up prices still further’.
There is nervousness in the Treasury and the Bank of England about any action that might embed high inflation – currently running at a 40-year high – in the UK economy.
It has been reported that the Chancellor will come forward with a plan – worth as much as £10billion – that will be partly funded by a new windfall tax on energy firms.
Treasury sources suggested Chancellor Rishi Sunak’s fresh support would focus on the poorest households
It has been reported that the Chancellor will come forward with a plan – worth as much as £10billion – that will be partly funded by a new windfall tax on energy firms
The Chancellor today repeated his apology over his police fine for attending a birthday gathering for the PM during in June 2020
The Times said Mr Sunak’s package of support could also include increases in the warm homes discount, winter fuel allowance and a cut in Council Tax.
A VAT cut was also claimed to be under consideration by Treasury officials.
Calls for further Government help were given added urgency this week when Jonathan Brearley, boss of the energy regulator Ofgem, indicated the energy price cap will increase by a further £830 to £2,800 in October.
Both Mr Sunak and Boris Johnson will face claims that any support announced tomorrow will be an attempt to distract from the Prime Minister’s Partygate row, following the publication of Sue Gray’s damning report today.
The senior civil servant’s 37-page document criticised ‘excessive’ drinking at a slew of bashes in Downing Street and Whitehall – many of which broke lockdown rules.
Ms Gray described how officials enjoyed karaoke, were sick in offices, sloshed red wine up the walls, and even got into fights while the rest of the country was under harsh Covid restrictions.
Following the publication of her report, Mr Sunak repeated his apology over his police fine for attending a birthday gathering for the PM during in June 2020.
Mr Sunak first apologised last month after he, the Prime Minister and Carrie Johnson received fixed penalty notices over the surprise event.
The event on June 19 was organised by Mrs Johnson and the Chancellor is said to only have been present briefly as he made his way to a meeting in the building.
One source said Mr Sunak had been ‘dragged into this’ damaging crisis by Mrs Johnson.
But Ms Gray today released images showing Mr Sunak at the party alongside the PM.
Afterwards Mr Sunak tweeted: ‘I’m grateful to Sue Gray for her report and I sincerely repeat my apologies for the event I received a fine for.
‘The Prime Minister has apologised and lessons have been learned. I hope we can now move forward and continue delivering for the British people.