Rishi Sunak warns of 'tough months ahead' amid perfect storm - but is told he needs to do more
manchestereveningnews.co.ukThe Treasury has been called on to bring benefit and pension rises forward to help the nation’s most vulnerable, as the Chancellor warned of a “perfect storm” of supply shocks rocking Britain over the next few months.
Karl Handscomb, senior economist at the Resolution Foundation think tank, said waiting for the annual increase in April 2023 was “a recipe for more debt”, adding: “The main thing is the need to provide more support for those highly reliant on benefits." He told the BBC: “If (the Treasury) get started now, they can do it before the next energy price rise in October.” A spokesman for the Treasury told the broadcaster: “We understand that people are struggling with rising prices, and while we can’t shield everyone from the global challenges we face, we are supporting British families to navigate the months ahead with a £22bn package of support.” Read more: Officers track stolen car in Little Hulton then find it abandoned It comes after Rishi Sunak called on businesses to “invest, train and innovate more” to help boost productivity and improve the long-term prosperity of the UK.
In a speech to the CBI on Wednesday evening (18 May), the Chancellor said he stands ready to do more to help families cope with the impact of rising inflation.
However, he also spoke of a “perfect storm” of supply shocks rocking Britain, warning that “the next few months will be tough”.
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