Is Rishi Sunak ‘playing’ with the cost of living crisis?

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2 minutes read

On this week’s episode of The Rundown – Labor Shadow Chancellor Rachel Reeves, Paul Johnson of the Institute for Fiscal Studies and Mel Stride, the Conservative chair of the Treasury Select Committee, meet with Alain Tolhurst and Noa Hoffman to discuss how Rishi Sunak’s spring declaration will come about has landed and whether he is the tax-cutting chancellor he claims to be.

Reeves has accused her counterpart of being more concerned with the next elections and personal ambitions than helping people through the cost of living crisis.

She said “it’s all a bit of a game” for Sunak after he announced he would cut income tax by 1p – but only until the end of this Parliament.

“He’s thinking about the next election, and he’s thinking about the next leadership election in his party,” Reeves argued.

“And his policies are geared towards that rather than what is in the national interest. So he says he wants to cut taxes but he’s not cutting taxes now when people need help and need more money in their pockets.

“He says ‘we’re going to trim them in 2024,’ wow what a propitious date that is because that’s going to be right before the next election.”

Reflecting on the questions the Chancellor still faces, Alain met with Mel Stride, chairman of the powerful Treasury Select Committee, which is scheduled to test Sunak over his sping statement on Monday.

Stride indicated that failing to do more for the least affluent or to spend more to combat rising energy costs will be high on his list of priorities.

The Rundown is presented by Alain Tolhurst and edited by Laura Silver.

Produced and edited by Nick Hilton for Podot.

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