Rishi Sunak made it clear that the government is ready to help those who “struggle is too hard and the risks are too great” amid the cost of living crisis.
‌Amidst this highest inflation in 40 years, Sunak has promised that government can get inflation under control but it may take time.
‌Major points Sunak made were

Windfall tax

• The chancellor announced a “temporary targeted profits levy” to tax extraordinary profits of energy companies while incentivising investment.

• The levy will raise about £5bn of revenue, enabling to fund the government’s energy support package

Welfare support

• Sunak said the government will focus on financial support to the poorest households.
• The government will send directly to about 8m households a one-off “cost of living payment” of £650, direct to people’s bank accounts.
• The payment will go to households in receipt of welfare benefits
• The chancellor says this system is more effective than uprating the value of benefits

Pensioners and disabled households

• The chancellor says 8m pensioner households will obtain a “pensioner cost of living payment” of £300
• He says 6 million non-means-tested disability benefit recipients will receive a £150 payment
Universal support measures
• The chancellor says it is the right thing to do to support all families with the cost of living crisis, as well as those in most need.
• Sunak says the repayment of the £200 repayable loan, due in October, will be turned into a grant. The payment will be doubled to £400 for everyone.

Total support package
• The chancellor says the total cost of living support is worth £15bn to help families with rising costs while helping the most vulnerable in society
• This is on top of £22bn announced in the spring.

Is it a bribe for people to forget about the partygate issue and the rule-breaking? Whatsoever this is going to support people in inflation!

Source: The Guardian