UK's Sunak says new support package will have minimal impact on inflation

LONDON, May 27 ― British finance minister Rishi Sunak said today that the new £15 billion cost-of-living support package would have less than 1 percentage point impact on inflation.Asked if it would be a one percentage point impact, he said: “Much, much less than that.” Sunak has announced a 25 per cent windfall tax on oil and gas producers' profits to partially fund the government's measures to help families with rising costs.

Asked about a possible windfall tax on electricity generators, Sunak referred to his statement yesterday, which said the government was looking at profits in the industry. “What we want to do and we are going to do urgently is understand the scale of those profits, and then decide on the appropriate next steps,” he told Sky News. ― Reuters

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