Rishi Sunak is set to announce a multibillion-dollar financial package to help with the cost of living on Thursday, just a day after Sue Gray’s expected report, Sky News understands.
The Chancellor meets with Prime Minister Boris Johnson tomorrow sign a package that could include a new tax on windfall income, help with fuel bills and help for the most vulnerable.
Mr Johnson is expected to be keen to announce a significant spending package before MPs disappear for a break after Thursday.
It used to be expected in early June, afterwards Platinum Anniversary Queen.
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It is clear that the Prime Minister hopes this will remove some of the damage in Ms. Gray’s report, which is expected on Wednesday.
This will spark loud accusations that he is using the spending announcement as a “dead cat” to distract the country and its MPs from criticism, but the government will argue that inflation and growth forecasts make the postponement unreasonable.
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It is clear that the package has not yet been agreed. Any disagreement between Mr. Johnson and Mr. Sunak over the content may still delay him.
Mr Sunak told the CBI to give priority to the most vulnerable, but Mr Johnson would do his best to reassure his backs, who had set multibillion-dollar demands on everything from raising benefits to lowering VAT.
Two weeks ago, Sky News reported that there would not be enough information on the likely cost of energy in the fall to make an opinion by July.
However, today Ofgem CEO Jonathan Brirley announced that the price cap on energy in the UK is expected to rise in October to around £ 2,800, which is £ 830.