Cost of Living: Liz Truss and Rishi Sunak feel the heat amid daily COBRA crisis meetings | Political news
Liz Truss and Rishi Sunak are under increasing pressure to explain how they will help British families deal with the cost of living crisis this autumn.
With inflation set to spike above 13% in October, a cap on energy prices expected to rise and a recession forecast by year-end, economic policy has become a key issue of the strategy. Conservative Party leadership.
A controversy erupted over the weekend after Ms. Truss told the Financial Times she planned to reduce taxes instead of handing out distributions.
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PM hopes to divide by living expenses
This resulted in a quick rebuke from Mr. Sunakwho said it was “simply wrong to rule out further direct support” for struggling families this winter.
Ms Truss’ supporters later told Sky News that her remarks were “misunderstand”.
Penny Mordaunt said: “What she has, I think, tested is precisely the wisdom of taking large sums of money out of people’s pockets with tax dollars and then giving back some of it in ways more complicated than ever.”
In another development, former Labor prime minister Gordon Brown intervened for the second time in days.
Mr Brown, himself a former prime minister, is calling on the COBRA emergency committee to sit in “permanent session” during the current crisis.
He also called for revoking parliament as a matter of urgency unless Boris Johnson and both Tory leadership candidates can agree on an emergency budget in the coming days.
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Tax cut proposal doesn’t ‘come close’
Writing in the Daily Mirror, Mr Brown said: “Even if Boris Johnson is now on holiday, his deputies should negotiate hard to buy new supplies of oil and gas from other countries and they should. urgently create more storage space that we currently have.
And he warned that some of the tax cuts proposed during the leadership race “won’t benefit the really poor”.
Over the weekend, a report commissioned by Mr. Brown warned some low-income families are discounts up to £1,600 a year result of the cost of living crisis after tripling their income – even with government support taken into account.
While working-age households using Common Credit and other benefits that have been tested by other means are receiving an extra help of up to £1,200, poverty expert, Professor Donald Hirsch said these measures have been eclipsed.
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What have Rishi Sunak and Liz Truss committed to the country?
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Mordaunt: Truss has ‘not ruled out all future help’
Tory MP Damian Hinds, one of Mr Sunak’s supporters, has admitted that the existing package is not enough in these “extremely difficult times”.
He told Sky News: “Things have gotten worse since it came out in terms of forecasts for energy bills… and [Mr Sunak’s] it was clear that more could be needed and he was willing to do it on request. “
Newly released Labor Party research suggests every £5 that pensioners spend this winter will go towards energy bills – and ‘imaginary tax cuts’ by the Tory leadership The proposal will hopefully not benefit older people.
Gordon Brown will be interviewed live on Sky News Breakfast at 7:30am this morning.
