The UK will on March 23 outline a two-step process of interventions to support Britons through a cost-of-living crisis, the Telegraph reported.
Chancellor of the exchequer Rishi Sunak has had a change of heart because of the extent of the fallout from the war in Ukraine, the newspaper said.
He had been resisting calls from within his own Conservative Party, opposition politicians and business leaders to boost support beyond the £9bn (R176.56bn) unveiled in February, Bloomberg reported on Friday.
The new measures may include increases to state benefits and more support specifically with energy bills. However, the £200 (R3923) energy rebate in the chancellor’s original plans will remain unchanged until the autumn when the second phase of the support package is planned, the Telegraph reported.
Conservative MPs want Sunak to go further by scrapping a planned rise to National Insurance, a UK salary tax which is used to fund state benefits. It’s too late to postpone or cancel the increase which is due to come into effect next month, the newspaper reported, citing Treasury officials.
More stories like this are available on bloomberg.com
UK to bring new plans to tackle high cost of living: Telegraph
Image: Bloomberg
The UK will on March 23 outline a two-step process of interventions to support Britons through a cost-of-living crisis, the Telegraph reported.
Chancellor of the exchequer Rishi Sunak has had a change of heart because of the extent of the fallout from the war in Ukraine, the newspaper said.
He had been resisting calls from within his own Conservative Party, opposition politicians and business leaders to boost support beyond the £9bn (R176.56bn) unveiled in February, Bloomberg reported on Friday.
The new measures may include increases to state benefits and more support specifically with energy bills. However, the £200 (R3923) energy rebate in the chancellor’s original plans will remain unchanged until the autumn when the second phase of the support package is planned, the Telegraph reported.
Conservative MPs want Sunak to go further by scrapping a planned rise to National Insurance, a UK salary tax which is used to fund state benefits. It’s too late to postpone or cancel the increase which is due to come into effect next month, the newspaper reported, citing Treasury officials.
More stories like this are available on bloomberg.com
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