LONDON, March 20 — British finance minister Rishi Sunak, preparing for a budget update this week, said he would help where possible with a cost-of-living squeeze but warned tough economic times would be exacerbated by the Ukraine crisis and sanctions on Russia.
“The actions and steps we’re taking to sanction Russia are not cost-free for us here at home,” Sunak told“I can’t pretend that it’s going to be easy, that government can solve every challenge, or that I can completely protect people against some of the difficult times ahead, but what I can say is where we can make a difference, of course we will.”
He said his priority going forward was to reduce taxation but a planned rise in national insurance due to begin in April, in order to fund health and social care spending, was fair.
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