Spring Statement balancing act for Rishi Sunak over cost of living and long-term challenges like social care and energy security – The Yorkshire Post says

It is also far more precipitous compared to the outlook three months ago when the Chancellor set the date for a financial update which has effectively morphed into a mini-budget due to events.

Don’t punish low income families in Spring Statement as pressure grows on Rishi Sunak over cost of living crisis and rising heating bills – Justine Greening

Then, Mr Sunak anticipated a resurgent economy as lockdown restrictions were eased. Now Covid cases appear to be rife – and every family, and business, have been left counting the cost of Russia’s illegal invasion of Ukraine.

Yet, while the Chancellor has already made a number of significant interventions over council tax and heating bills, they barely cover the increased costs that many hardworking families are already facing on a daily basis and through no fault of their own.

Warm words alone won’t heat homes and he cannot afford to ignore this if the Tories are committed to alleviating social hardship, whether it be cutting fuel duty or raising the threshold at which the new Health and Social Care Levy becomes applicable through National Insurance.

Equally, Mr Sunak needs to address some of the long-term issues that are compromising the economy – the increase in NI might be more palatable if a greater proportion of money went to social care in the first instance while the Ukraine crisis has highlighted the importance of energy security and a likelihood that defence spending will need to rise significantly in the coming years.

But the Richmond MP will only be able to meet the country’s immediate and longer-term challenges by presiding over a new era of growth. And that means turbo-charging the levelling up agenda and productivity so every region – including Yorkshire – can begin to fulfil their potential. Over to you, Chancellor.

Support The Yorkshire Post and become a subscriber today. Your subscription will help us to continue to bring quality news to the people of Yorkshire. In return, you’ll see fewer ads on site, get free access to our app, receive exclusive members-only offers and access to all premium content and columns. Click here to subscribe.