By Rishi Sunak facing pressure to act on living standards
The chancellor has pledged to help as he faces pressure to help households with soaring living costs.
Ahead of next week’s Spring Statement, Rishi Sunak told the BBC he would “stand by” people,
He also warned sanctions against Russia were not “cost-free”.
There are calls from some Tory MPs to cut fuel duty to help ease rising costs at the pumps.
Rachel Reeves, his labour counterpart, said her party would back such a move.
The shadow chancellor said the government should also be taxing oil and gas companies to fund more generous energy discounts for poorer families.
Mr. Sunak is facing pressure to act on living standards amid soaring energy costs and rising household bills.
Personal finance expert Martin Lewis said the squeeze facing households was worse than during the Covid pandemic or after the 2008 financial crash.
He told the BBC’s Sunday Morning programme he was “virtually out of tools to help people now”.
On the same programme, Mr. Sunak said he would not be able to “fully protect” people from the consequences of rising prices.
He added: “I want to be honest with people that it’s not going to be easy.
Millions of households are facing sharp rises in energy bills from next month.
The Governments higher cap means typical households face paying 54% more than they pay now.
According to reports, Mr. Sunak is facing calls from more than 50 MPs to cut fuel duty.
Others within his party have been calling for the government to scrap VAT on energy bills.
