Chancellor Rishi Sunak has said his new emergency cost-of-living package will have a “minimal” impact on inflation which will be “much less” than 1%.
He told Sky News: “Our estimate, and my view, is it will have a minimal impact on inflation." Asked if it could be as high as 1%, he replied “no, much, much less than that, minimal”.
He argued that was the case because the help is “very targeted” at those who need it most while money is being raised to pay for the measures.
Last week (18 May) the Office for National Statistics announced that inflation had surged to 9% - the highest level in 40 years. Read more: Rishi Sunak denies using £21bn cost-of-living support package to deflect from Partygate The hike, which has risen from 7% since March, means that the cost of living increases even further and people's money won't travel as far.
Read more on manchestereveningnews.co.uk
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.