Rishi Sunak says 'it was right to wait' for bailout package
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Chancellor Rishi Sunak has set out a significant financial package to support households as annual energy bills could hit £2,800 by the autumn. Millions will receive a £400 discount on their energy bills and a £5billion windfall tax will be enforced on energy companies.
These were unveiled as part of emergency measures to counteract rising inflation which has reached a 40-year high.
Are you happy with Rishi Sunak’s plan to help Britons with the cost of living crisis?
Every household in the UK will be given £400 by the Government in October to support a further hike in energy bills.
Mr Sunak has also brought in a £650 payment for eight million of the worst-off households paid in two instalments in July and the autumn.
In addition, a one-off £300 payment for a further eight million pensioner households and £150 for six million disabled people will also be rolled-out.
The emergency measures are funded by an additional £10billion of borrowing by Mr Sunak who insisted he had a “responsible fiscal policy”.
Mr Sunak said: “We know that people are facing challenges with the cost of living and that is why today I’m stepping in with further support to help with rising energy bills.
“We have a collective responsibility to help those who are paying the highest price for the high inflation we face. That is why I’m targeting this significant support to millions of the most vulnerable people in our society.
“I said we would stand by people and that is what this support does today.”
But Mr Sunak’s announcement was greeted by heckles and shouts of “what took you so long” and “about time”.
So what do YOU think? Are you happy with Rishi Sunak’s plan to help Britons with the cost of living crisis? Vote in our poll and leave your thoughts in the comment section below.
Should Rishi Sunak be allowing second home owners to claim £400 grant twice?
Under Mr Sunak’s plan, second homeowners will be eligible to save £400 on their energy bills for each property.
The Treasury confirms that there is no restriction on how many times individuals can benefit from the handouts.
Both Prime Minister Boris Johnson and Mr Sunak will receive benefits for their multiple properties.
It is understood that Mr Sunak will donate his grants to good causes in his constituency.
So what do YOU think? Should Rishi Sunak be allowing second home owners to claim a £400 grant twice? Vote in our poll and leave your thoughts in the comment section below.
Has Rishi Sunak boosted Labour’s ratings after the announcement?
Shadow chancellor Rachel Reeves said the Government had been dragged “kicking and screaming” into backing Labour’s plans.
She said: “After today’s announcement, let there be no doubt about who is winning the battle of ideas in Britain. It’s the Labour Party.
“Today, it feels like the Chancellor has finally realised the problems the country is facing. We first called for a windfall tax on oil and gas producers nearly five months ago to help struggling families and pensioners.”
Latest YouGov polling (as of May 19) placed the Government’s approval rating at 21 percent.
In comparison, 62 percent disapprove of the Government and 17 percent said they did not know.
So what do YOU think? Has Rishi Sunak boosted Labour’s ratings after the announcement? Vote in our poll and leave your thoughts in the comment section below.
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Is the help enough to help you with the cost of living crisis?
Mr Sunak’s emergency measures will provide some much-needed support to millions of households, but some argue it is not enough.
Labour’s deputy leader Angela Rayner claimed Mr Sunak’s plans were designed to act as a distraction to the Partygate scandal.
She also said the measures have come too late to help struggling families.
She told the Local Democracy Reporting Service at a trade union rally in Newcastle on Thursday night: “He could have done this months ago, Labour has been calling for them to take action months ago, and today’s announcements don’t really do anything now.
“We know the prices are going to go up again in October and people are really fearful, they are struggling, already turning the heating off and worrying about how they are going to feed their families.
“What the Tories have done today is to try and distract from what is going on in their government and it is nowhere near enough.”
So what do YOU think? Is the help enough to help you with the cost of living crisis? Vote in our poll and leave your thoughts in the comment section below.
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