Rishi Sunak's cost of living package desperately needed, but tough times still ahead - The Yorkshire Post says
The Chancellor revealed a £15bn package in a move to tackle the impact of rising inflation, measures which will see households receive a £400 discount off their energy bills and targeted support for the elderly, the disabled and some of the poorest people in society.
A controversial windfall tax levied on oil and gas companies will raise around £5bn to help meet the cost of the measures, but it will only fund part of the package.
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Hide AdThough the timing of Mr Sunak’s announcement was viewed with suspicion in Westminster, coming a day after the release of Sue Gray’s report into parties that were held in Downing Street during Covid restrictions, for the millions of households that are feeling the strain, some already stretched to breaking point, it is desperately needed.
After his spring statement received criticism for not doing enough to help households struggling the most with the cost of living, and with pressure coming from MPs across the political spectrum, it was certainly high time for Mr Sunak to act - and with measures that will benefit everyone.
Mr Sunak acknowledged that high inflation is causing “acute distress” for people and it is particularly welcomed that the Government will be giving the hardest hit the most support. However, many households will be still be concerned about the cost of living in the months ahead.
With thousands of families already relying on food banks, inflation at a 40-year high and warnings that annual household energy bills could rise by as much as £800 in October, many people are still going to be facing the toughest financial hardship in their lifetime, likely to only get worse through the winter months.