Sunak expected to speak any minute now.
*UK Finance Minister Sunak: High Inflation Is Causing Acute Distress
*UK Finance Minister Sunak: We Have the Tools We Need to Combat Inflation
*UK Finance Minister Sunak: We Will Turn Moment of Difficulty Into Springboard for Economic Growth
*UK Finance Minister Sunak: Global Shocks Explains Most of Inflation Overshoot
*UK Finance Minister Sunak: Situation Has Become More Serious Over the Course of This Year
*UK Finance Minister Sunak: Core Inflation Has Become Broader Based
*UK Finance Minister Sunak: We Are Acutely Exposed to European Energy Price Shock
*UK Finance Minister Sunak: Longer-Term Inflation Expectations Have Risen Above Their Historical Long-Term Averages
*UK Finance Minister Sunak: We Must Not Allow People to Expect Inflation Will Remain High Over Long Term
*UK Finance Minister Sunak: Our Primary Tool to Fight Inflation Is Independent Monetary Policy
*UK Finance Minister Sunak: Right That Bank of England Is Independent
*UK Finance Minister Sunak: We Need Responsible Fiscal Policy
*UK Finance Minister Sunak: Fiscal Policy Should Not Make Inflation Worse
*UK Finance Minister Sunak: Fiscal Support Should Be Timely, Temporary and Targeted
*UK Finance Minister Sunak: In Autumn We Will Bring Forward Tax Cuts and Reforms to Encourage Business Investment
*UK Finance Minister Sunak: We Will Provide Significant Support to British People
*UK Finance Minister Sunak: Oil and Gas Sector Is Making Extraordinary Profits
*UK Finance Minister Sunak: I Am Sympathetic to Tax Those Profits
*UK Finance Minister Sunak: It Is Possible to Tax Extraordinary Profits and Encourage Investment
*UK Finance Minister Sunak: We Will Introduce a Temporary Energy Profits Levy
*UK Finance Minister Sunak: We Will Also Introduce an Investment Tax Incentive
*UK Finance Minister Sunak: New Levy Will Be Charged at Rate of 25%
*UK Finance Minister Sunak: New Investment Allowance Will Double Relief for Energy and Gas Companies
*UK Finance Minister Sunak: More a Company Invests, the Less Tax They Will Pay
*UK Finance Minister Sunak: Electrical Generation Sector Is Also Creating Extraordinary Profits
*UK Finance Minister Sunak: We Are Urgently Evaluating Scale of Extraordinary Profits in Electrical Generation Sector
*UK Finance Minister Sunak: Windfall Tax Will Raise 5 bln GBP
*UK Finance Minister Sunak: We Will Provide Targeted Support to Most Vulnerable
*UK Finance Minister Sunak: We Will Send to Around 8 Million Low Income Households a One-Off Payment of £650
*UK Finance Minister Sunak: This Is Support of 5 bln GBP
*UK Finance Minister Sunak: Payment Will Be Made in Two Lump Sums, First in July, Second in Autumn
*UK Finance Minister Sunak: We Will Send Payments Straight Into Bank Accounts
*UK Finance Minister Sunak: From Autumn, We Will Send Over 8 mln Pensioner Households an Extra Payment of £300
*UK Finance Minister Sunak: To Help 6 mln People on Disability Benefits, We Will Send a One-Off Payment of £150
*UK Finance Minister Sunak: Next Year, Benefits Will Be Uprated by This September’s CPI
*UK Finance Minister Sunak: Triple Lock Will Apply for State Pension Next Year
*UK Finance Minister Sunak: Will Extend Household Support Fund by 500 mln GBP
*UK Finance Minister Sunak: Taken Together, Our Support Will Help Around 1/3 of UK Households
*UK Finance Minister Sunak: Repayments in Future Years on Energy Bill Rebate Scheme Will Be Cancelled
*UK Finance Minister Sunak: Energy Bill Rebate Can Now Be Considered a Grant, Will Be Upped to £400
*UK Finance Minister Sunak: Measures Announced Today Total 15 bln GBP
*UK Finance Minister Sunak: Total Support Measures for Households Now Amount to 37 bln GBP
This is the Cost of Living Support package in full. You can find supporting and related documents below.
www.gov.uk
*UK Finance Minister Sunak: Thinks Inflationary Impact of Today’s Measures Will Be Manageable