Stock Groups

UK’s Sunak to warn cost of living crisis won’t be easy to fix -Breaking

[ad_1]

© Reuters. FILEPHOTO: Britain’s Chancellor of Exchequer Rishi SUNAK hosts a press conference in London’s Downing Street Briefing Room on February 3, 2022. Justin Tallis/Pool via REUTERS/File Photo

LONDON (Reuters] -British Finance Minister Rishi Sonak will make a warning Wednesday to British business leaders that fixing the increasing cost of living will be difficult. In urging them not to invest, to train staff and to invent new ways to improve their businesses’ productivity, he will say on Wednesday: “Fixing the rising cost to live for our families won’t be an easy task.”

British inflation soared to the highest level since 1982. Consumer price inflation reached 9% last April. Sunak is under increasing pressure to assist those who struggle to pay their rising food, fuel, and energy bills.

Our role as government is to reduce costs for families. According to excerpts of Sunak’s speech, he will speak at the Confederation of British Industry dinner.

These forces cannot disappear overnight, and there is no legislation or measure that any government can take. These next months are going to be hard.

He will reaffirm his promise from March to lower business taxes and urge employers to contribute to alleviating the economic woes of households through continued investment and innovation.

We need to encourage you to innovate, invest more and train more. He will announce that in the Autumn Budget, we will reduce your taxes to help you do all of those things.

“That is the path to higher productivity, higher living standards, and a more prosperous and secure future.”

[ad_2]