Liz Truss and Rishi Sunak discuss how they can help families with soaring costs of living and a "financial time bomb" exploding in the fall. As I explain, we are facing increasing pressure.
Their economic response to the crisis has emerged as the main battleground to become the next prime minister, and Truss has suggested there will be no "subsidies," which he then downplayed. A comment that has been condemned by Sunak's allies.
Liz Truss speaks at Solihull Moors FC as part of Tory leadership campaign (Jacob King/PA)
(PA Wire)
The fuss comes in light of warnings from the Bank of England about the longest recession since the financial crisis and an inflation rate of over 13%, and she told the Financial Times that she will "consider what more can be done." It followed the favorite of Tory, who said. %.
However, she added:
Sunak was quick to denounce this winter that it would be "simply wrong to exclude further direct support" for struggling families.
Penny Mordaunt, a former Tory lead candidate and supporter of Ms Truss, claimed she had been misunderstood.
27}I will use my (emergency budget) to immediately address the cost of living crisis by tax
Liz Truss
She told Sky News:
"Her focus is on helping people keep more of the money they earn." She has accused rivals of making another U-turn after she pushed back against proposals to cut public sector salaries outside London.
Former Chief Whip Mark Harper tweeted:
``This is the second time in just five days. What do you mean by 'not handing out handouts'?" agreed with Mr. Truss' plan to immediately reverse the increase in
Ms Truss wrote in her Telegraph Sunday: invoice.
Former Tory Party co-chair Oliver Dowden said the foreign secretary's proposed tax cuts were "insufficient" to help low-income workers and would disproportionately benefit the wealthy.
A snack supporter told BBC News: It only makes less than £60 profit for those working full time on the national living wage.
"By contrast, whoever the Prime Minister is, they will have a profit of about £1,800.
"So this is a very difficult time to It's not a way to help people."
Rishi Sunak at a campaign event in Edinburgh (Jeff J Mitchell/PA)
(PA Wire)
Mr. Sunak, as prime minister, would do more than the extra £1,200 he provided to the poorest of society, his allies suggested. He also pledged to abolish his VAT on fuel costs.
Conservative MP Damien Hines admitted that existing packages were not sufficient in these "very difficult times".
He told his Sky News: upon request. "
There are growing calls for the new prime minister to urgently increase the amount of assistance available to vulnerable households, according to a report commissioned by former Prime Minister Gordon Brown.
Former Prime Minister Gordon Brown has called on the British government to implement an emergency budget to help families in distress (Jane Barlow/ PA)
(PA Wire)
Brown pressured both candidates to agree an emergency budget plan with Boris Johnson this week. Otherwise, we risk "plunging millions of vulnerable and irresponsible children and pensioners into a winter of dire poverty."
"The reality is harsh and undeniable." In October, an economic time bomb will explode on families as the second fuel price hike in six months sends shockwaves through every household, crippling millions. ' said the Labor Party. The former prime minister wrote to the Observer on Sunday.
He reported that existing government support for low-income households was insufficient to offset the losses they faced, with some households spending up to 1,600 per year. The burden of pounds is getting worse.
The additional £1,200 provided to society's poorest people this year will not be able to make up for three big hits to incomes from October 2021 to October 2022, analysis suggests is doing.
Mr Brown told BBC Radio 4's The World This Weekend, lamenting the 'vacuum' at the heart of government created by the prime minister and prime minister on vacation and the Conservative leadership candidate who continues to campaign. said not enough.
Truss and Sunak to be elected next party leader and prime minister continue to travel across the country seeking support from Tories. Voting is now open and results will be announced on September 5th.
