Speaking at the annual CBI dinner on Wednesday, Mr Sunak warned of a "tough" few months ahead and promised to cut tax for businesses to enable them to invest and train.
"Our role in Government is to cut costs for families. I cannot pretend this will be easy. The next few months will be tough, but where we can act, we will," he told businesses."And as I’ve said previously, our firm plan is to reduce and reform your taxes to encourage you to do all those things.
On Wednesday hopes of a windfall tax on energy companies to help tackle the crisis were dashed by No10 despite Treasury officials reportedly believing it is unavoidable. The Treasury believes a windfall tax is "politically unavoidable" because of the strong message of solidarity it would send to the British public, The Times reports.But the paper says Boris Johnson's advisers are resisting the move on the grounds it is "unconservative".A combination of soaring inflation, rising bills and hikes in national insurance and council tax have left more people struggling to make ends meet.
The Government has been falling under increasing pressure to do more to help people cope - in particular, introducing a one-off windfall tax on big oil and gas companies.
Kerching, my boss is buying a Jag
Why cut business tax just give workers 3 months of no income tax payments this will help massively.
Twisting the knife in those already struggling.
WTAF. Cutting taxes for business does nothing to encourage more wage growth. They just trouser that money for themselves.
Ideological decision....
Glad that’s sorted 🤔🤨😡
Cuts for bosses!!! what about the workers? no money too spend no business being done,no customers.businesses go bust…
I’m no economist, but clearly neither is he.
For business!!!!!
Skewed priorities again.
Cut taxes for pensioners and workers too not just businesses
This is where the “trickle down” idea fails. Not only do these cuts fail to trickle down, they are paid for by employees and customers. It’s actually sickening
As always looking after the Rich
God bless you, sir. Spare a slice of stale bread for the unworthy starving, guv'nor? 🇬🇧🎩🧐
Basically looking after his business mates whilst the common people go hungry
I’m sure the libertarian think tanks are working overtime to justify how cutting taxes on businesses will help the average working person to keep the lights on.
Clueless
Ah…so the voter bribes begin..an election must be coming.
They just don’t get it do they ?
Why did anyone believe that the wealthiest man in Parliament cared about the people or had the first clue about our needs? ToryCriminalsUnfitToGovern ToryCostOfLivingCrisis
How does that help? Trickle down economics is a proven lie, it fails every economic test, it is used as a catch-all to offer hope but is empty political words. 7th richest country, with more foodbanks than Macdonald's. A national disgrace.
O..m..g!!! even IF he did cut taxes does he really think that will then be passed on to everyone else
LBC continues to omit / magnify certain stories
htf does business tax cuts help the cost of living crisis. Oil co’s have made bumper profits this year, and thats because they continue to keep prices ridiculously high with has caused the very crisis we’re in - his policy is off the scale bonkers
HELP US OAPS FOR GOD SAKE WHAT ARE TRYING TO DO TO US WE WILL BE LIVING ON THE STREET IF THIS IS ALLOWED TO CONTINUE !
He is out of touch, out of ideas, out of his depth. Put that on a lectern.
Everything is to “cut the cost of living crisis”. Here’s an idea Rish…let’s start at the petrol pumps so people can actually afford to travel to “better paid jobs” and “do more hours” to get them out of this crisis the government have caused!
Needs to cut cooperation tax now !!
Just waiting for an election, then he’ll do something
Once more how UK government works say nice words to have the media put out what your going to do. but still doing right now sod all
Reword: man with no financial worries ever, builds massive swimming pool in luxury mansion.
What an effing farse. Businesses invest when taxes are high and pay dividends when taxes are low. What does he think will happen.
This guy is just taking the piss
joymorrissey This government promises lots of things. Most of which don't appear to ever happen 🤔
Be no good to them when people aren't buying anything. Why are they intentionally trying to run our economy aground ?🤷
…Whereas a tax cut would be more beneficial if it targets the lower-middle class as lower-middle-income people cover a large part of the population… They can spend = increase in demand for goods/services = increase production, jobs & income…🤷♀️
They are just taking the piss now
More help for there mate,Naff all for the tax payers…Says it all..🤬🤬🤷♂️🇬🇧☘️
Worst chancellor this country as had, been fined for breaking lockdowns rules,owns a American passport,looking after banks,and energy companies,and top earners ,not paying pensioners what they were supposed to have and put the country to the highest tax for 40 years
Always tax cuts to the rich. They have tunnel vision. Stop. Voting. For. These. Creatures.
Ludicrous. Hasn’t anyone told RishiSunak that the trickle-down effect isn’t actually effective. It plants more money in hands of the rich & corporations whilst those on lower incomes do not receive a tax cut —this only widens income & wealth inequality.
Surely all will happen is executive pay, profits and dividends up and wages for the rest of us kept as low as bosses can get away with. Don’t see this helping.
Clueless
Takes the piss………as long as they keep businesses on side eh?
How does he think that will help the ordinary person. Out of touch. ToryCostOfLivingCrisis
So out of touch!
Why businesses! They won’t pass it on!
It’s always business that gets the breaks
.Conservatives RishiSunak shows just how out of touch the party is with the electorate. This will simply mean more dividends for shareholders. KwasiKwarteng joke of a letter to the petrol retailers said it all. The retailers just ignored passing the tax cut to consumers 1/2
You can't possible think it's acceptable to be taxed on everything that moves, stealth taxes, ridiculous increases in fuel costs. This is completely out of control. Take a look at this mess and reign it back. It's no way to live. We'll be taxed for breathing next. Madness.
The Bank Of England have revealed Brexit is costing the U.K £444 million a week I wonder if Boris Johnson & Jacob Rees Mogg will be eager to print the truth on the side of buses?
Trickle down economics is proven to not work. This will not help poor people who need help now. We are being robbed and left to rot by this government. This is just another way to help out their rich mates and investments. It's sickening.
Like the 5p off fuel duty . A waste of fcking time. Businesses that are also struggling will keep any benefit from a tax cut and employees and people will go hang.And these snakes will brag about how benevolent they are. COME ON PEOPLE. WAKE UP
And the piblic? Wajt we dont make profits we are the spenders so if we cant spend buisness wont make profit. Its peopel who also need help
Helps business out but not the poor who are going without meals for their children to eat .
That’s not going to help people struggling to pay the bills. Can Rishi Sunak not hear how desperate many people are now? He suspended the Triple Lock on State Pension, claiming the country couldn’t afford it. However he can cut tax for businesses. How?CostOfLivingCrisis
How will that tackle the cost of loving crisis? It just means bigger dividends for shareholders.
Will they pay their employees,themselves or shareholders more with the tax break?
I am sure Elsie will be delighted.
Sunak's computer said yes to CBI.
Meanwhile some businesses will continue to exploit their staff
Come the revolution.
This should only be done on the strict condition that businesses pay real living wage to all their employees. RealLivingWage PovertyWages CostOfLivingCrisis enploymentrights
People are going without food so the Tories cut tax for business. Typical. Fucking. Tories
I knew I heard that right.
Sort ya mates out again. ToriesOut
Yeah, look after the rich and fvck the people ACTUALLY struggling.
Way to go Rishi...YOU PRICK!!!🤬🤬🤬🤬
On the day they brag more people are now in (often low paid) employment, they still cannot think of life existing beneath the business owning class. He knows trickle down doesn't work, this is just another was to further enrichen the already rich.
He's lost the plot, how can that fix individual people's finances?! Your fat cat buddies storing their mega wealth in a tax haven won't win your party the next election nor do you deserve to win either! RishiSunak BorisJohnson
Not a single clue/care do they have about the real effect this is having on people. Imagine Coming out with this bollocks… I’m going to help companies….ffs get out of government the lot of you
What !!!
Lot of thinking, 'getting on with', vowing, working on, will-be-doing from Gov of late. Actual doing = nada. Full of wind and piss, like the barber's cat. CostOfLivingCrisis
So his grand solution is to help those who are already doing ok (many posting record profits) instead of the ocean of people who are actually struggling. Absolutely clueless or purely corrupt, I can't even tell anymore
Wouldn't it be better to just remove fuel duty? and even impose price gouging laws on petrol stations like they are doing in the US? This way it lowers everyone's prices, including food and goods. Not just make more profit for the businesses.
Elsie will be pleased , no more warm bus journeys now for her she can stay at home all toasty
Rishi, being even more fishy, if it's possible.
The Troll Chancellor congratulates himself on his latest jape. More tax breaks for the rich to………’encourage investment’, hilarious !
Well that will do the trick for the millions of struggling families 🤷🏻♀️
No no Rishi, you've done back to front again.
Useless twt
My bznss has just been sent gaslight lettr that 'the chnge wld not have been possible under the EU' to give me that 'advance payment' but in Reality this 'advance' paymnt will be significantly LESS n wll be reduced evn further + rmvd because of BXT! n then actually be ZERO fr me
Rather like the 5p off fuel at the pumps - it became 2½p after the fuel companies took their share. Still, let's keep pressing that button, eh? Homer Simpson seems to think it works.
You know what, I think he’s nailed it here. This is exactly what will help people pay bills, international conglomerates paying less tax.
How about the poor tackling the living crisis
Is this like when he lowered the duty on fuel to help the people and the businesses just kept it?
Businesses are about to discover how unnecessary they are to 'living' in post apocalyptic (Brexit) Britain. Maslow had a view in his lowest hierarchy rung!
Is he stupid or something? How is business getting tax cuts going to make the poor/lower middle classes buy more goods/services when they are feeling the CostOfLiving CostOfLivingCrisis
Is this that non existent trickle down theory again. People can't wait for something that's never going to happen. People need direct help NOW.
I could be wrong here, but I don't think any company in history, after being given a tax break, has turned around and gave a pay raise to its employees. Historically, the increased revenue from those tax breaks typically goes into the pockets of CEO or shareholders.
Lol
Oh well, I guess his mates will be happy
Yes. Tory through and through.
Cost of Lockdown Crisis. RishiSunak is papering over his own cracks.
You couldn't make it up.
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