Politics live: Chancellor Rishi Sunak responds to claim cost of living help timed to distract from damning partygate report

Rachel Reeves MP says the package of measures announced 'owes more to the Labour way of thinking than Conservatives' adding, the government now needs to address 'long-term problems' to avoid going from 'crisis to crisis' Latest: 📺 Sky 501 and YouTube

5/27/2022 10:29:00 AM

Rachel Reeves MP says the package of measures announced 'owes more to the Labour way of thinking than Conservatives' adding, the government now needs to address 'long-term problems' to avoid going from 'crisis to crisis' Latest: 📺 Sky 501 and YouTube

Politics Hub brings you the latest political news, insight and analysis from the Sky News team in Westminster. Rishi Sunak is questioned about his cost of living plan as the fallout continues from the release of the full Sue Gray report into partygate.

"It is not right that if you own a second or a third home you should get this £400 payment multiple times. Sunak claims cost of living help will have 'minimal' inflation impact and responds to claims timing to distract from partygate

Asked if it could be as high as 1%, he replied"no, much, much less than that, minimal".Quizzed on the timing of the announcements, with suggestions they have been timed to try and distract from partygate, the chancellor rejected any link.Under the plans, every home will see £400 knocked off their bills - an upgrade from a previous policy of loaning them £200 to be repaid over five years - while eight million of the most vulnerable will also receive £650.

Read more: Sky News »

She created a crisis in her own constituency in Armley, Leeds, She dumped 100s of undesirable roma gypsies, the locals moaned to her and she ignored them now the place has turned into a ghetto. She still pops back every so often for a photo opportunity tho. What are Labours plans to address the long term issues?

Rishi Sunak to set out new cost of living crisis plan after Sue Gray reportA windfall tax could be one of the measures revealed by the chancellor on Thursday as the energy price hike is set to rise even further. But oil and gas companies have said that could reduce production in the future. They caused the problem to be much worse with their GDP destroying Brexit.

Rishi Sunak To 'Cut Energy Bills By £400 In Windfall Tax U-Turn'The chancellor is expected to set out plan to ease the cost-of-living squeeze a day after the partygate report. He's around £1300 short

3 things Rishi Sunak could announce today including Universal Credit boostCHANCELLOR Rishi Sunak is set to make an announcement today to help struggling Brits with the cost of living crisis. Energy bills will soar to £2,800 a year on average from October, the boss of Ofg…

Thursday morning UK news briefing: Rishi Sunak to extend energy bills relief for every householdThursday morning UK news briefing from TheChrisPrice 🔴Sunak to extend energy bills relief for every household 🔴PM denies partygate cover-up over 'Abba party' 🔴We can't help falling in love with jukebox epic Elvis TheChrisPrice Extending energy bill relief except for the disabled, pensioners, and low income families? I'm sure that Ruthless Rishi's rich friends will appreciate that extra money. TheChrisPrice £40 each year for five years when your policies of net zero have added £1200 to annual energy bills and about 40% uplift in food, goods and service cost uplift. It's like the burglar that's cleared your house of everything who when confronted on their way out gives back the milk

Rishi Sunak dishes out £15billion cut to bills as he announces energy windfall taxThe Chancellor’s latest round of government support — to be partly paid for by a windfall tax on oil and gas giants — will hand all households a £400 grant to help pay their soaring energy bills

Windfall Tax: All you need to know about the new Rishi Sunak levyAfter weeks of insisting that a windfall tax on oil and gas companies would discourage them from investing in the UK, Rishi Sunak performed a U-turn on Thursday by announcing the government would impose a one-off levy on energy companies to pay for a £15bn emergency aid package.

Labour: Cost of living help about partygate, not economics Labour's Rachel Reeves has been speaking to Sky News this morning.Please use Chrome browser for a more accessible video player 23:02 Should there be a windfall tax on oil? Labour has been calling for a windfall tax on oil and gas giants for the past few months but the government has so far resisted those calls.By News Editor, HuffPost UK 26/05/2022 12:10am BST.to offer relief to hard-up households.

The shadow chancellor told Sky News that she thinks the timing of the government's windfall tax owes more to Sue Gray than it does to the economics. "If the government hadn't have been resisting Labour's calls for a windfall tax and this additional support for months, the Government could have taken the time to get this package right," she said. "However, we are pragmatic, and we want to see our energy companies, which have made extraordinary profits at a time of acutely elevated prices, investing those profits back into British jobs, growth and energy security," he added. "It is not right that if you own a second or a third home you should get this £400 payment multiple times.  "You can now get a situation where somebody who's incredibly wealthy gets £400 on three or four occasions because they own so many properties." Please use Chrome browser for a more accessible video player 6:13 Why expensive energy impacts everything Offshore Energies UK, which represents the offshore oil and gas industry, warned a windfall tax would mean higher prices and do long-term damage to the industry. "This is only happening because this package has been rushed through because the government has been resisting this. Another council tax rebate Council Tax rebate, according to the Daily Mail.

" 07:31:35 Sunak claims cost of living help will have 'minimal' inflation impact and responds to claims timing to distract from partygate The chancellor has been speaking to Sky News this morning after setting out his latest plan to help people with the rising cost of living." Ms Michie said the industry is already the UK's most highly taxed, paying 40% on offshore profits, and operators would send the Treasury £7. Asked about the fiscal implications of the package, he says it will have a"minimal" impact on inflation,"much less" than 1%. "Our estimate, and my view, is it will have a minimal impact on inflation," the chancellor said. She said that was equivalent to £279 a household and a windfall tax would mean a decline in production in years ahead. Asked if it could be as high as 1%, he replied"no, much, much less than that, minimal". Mr Sunak said the inflationary impact would be so low because the help he has announced is"very targeted" at those who need it the most while money is being raised to pay for it through a windfall tax on oil and gas companies. Related Topics. The warm home discount scheme is available to low-income households, usually on certain benefits, to help with energy bills.

"The combination of those two things is the responsible approach. "Even though we are supporting the economy we want to make sure that we don't make the inflation situation worse." Quizzed on the timing of the announcements, with suggestions they have been timed to try and distract from partygate, the chancellor rejected any link. Mr Sunak said he wanted to"take the time" to get the windfall tax"right".  "I've always been consistent and I've said since the spring that I was prepared to do more and we would do more, but it was right to wait until we had some more certainty about what would happen to energy bills in the autumn," the chancellor said.

He also suggested those who do not need the £400 to help with energy bills it could give the money to charity. Under the plans, every home will see £400 knocked off their bills - an upgrade from a previous policy of loaning them £200 to be repaid over five years - while eight million of the most vulnerable will also receive £650. It comes at a time when inflation of 9% - a 40-year high - is squeezing households' spending power. The universal nature of the energy rebate will have the effect of helping many who do not need any assistance - and Mr Sunak suggested to Sky's Niall Paterson that"you like me..

. can give that money to charity if you don't need it". Read more from political reporter John-Paul Ford Rojas here: 07:30:47 Some Tory MPs fear the chancellor is at risk of permanently higher spending and more inflation Rishi Sunak, a devotee of Nigel Lawson, believes in a smaller state, curbing borrowing, lower taxes and combating inflation. Yet again, he delivered a major fiscal announcement where he did the opposite. Today's £21bn spending splurge expanded the role of the state with the advent of one-off financial transfers, could stoke inflation, add to borrowing, and contains a multibillion-pound tax rise.

One day he will be able to give the budget he wants; though maybe not while Boris Johnson is prime minister. Read more of Sam's analysis of the chancellor's cost of living announcement here: 22:51:43 £15 billion or £21bn? Confusion over total cost of energy bills help plan Initially, the chancellor announced the total expenditure for the plans he announced today was £15bn. But it has now transpired the Treasury had not included the £200 for every household it had announced in February. This was going to be a loan, but Mr Sunak turned it into a grant and doubled it to £400 on Thursday - adding another £6bn. So, the final figure being spent on helping people with energy bills and household support is £21bn.

19:48:34 Jacob Rees-Mogg admits he 'sees concerns' of Tory MPs worried about inflation impact of Sunak's spending Jacob Rees-Mogg has admitted he"sees the concerns" of other Tory MPs worried about the inflationary impact of further government spending. The Brexit opportunities minister dodged directly answering whether he was uncomfortable with the chancellor's new support package. But he told Sky News' Beth Rigby Interviews...

:"It's a very difficult balancing act in an inflationary period. "You have to get the balance right to ensure that the deficit doesn't explode, because deficit spending during an inflationary period is deeply inflationary." Some Tory MPs have raised concerns the chancellor's latest intervention is not very conservative. Rishi Sunak announced he is imposing a windfall tax on oil and gas companies to partially fund a £21bn package to help with the cost of living. Mr Rees-Mogg said he thinks the"underlying intention" of the announcement is"to allow things to get back to normal, to get to an equilibrium".

But asked about colleagues' concerns about there being an inflationary risk to the measures, he said:"I see their concerns. "And as I say, I think this is a balancing act, that it would be foolish for me to pretend it's easy to get right." Last week, the leading MP said he was against raising the"honeypot" of business with an oil and gas windfall tax. He told Beth Rigby Interviews:"What I was saying there is that people need to understand that there is not a tax that you can take that is economically cost free. "It doesn't matter which tax it is, it will have an economic consequence.

"Whether it's a pasty tax, or it's an excess profits tax, there is an economic consequence, there isn't a honeypot of free tax that governments can just pop into. "So as long as they raise the tax, knowing that it will have an economic consequence, which the chancellor does, then it is a matter of choosing between one form of revenue-raising and another. "There is no non-tax way, ultimately, of spending. It is either today's tax, or it's tomorrow's tax through borrowing." 18:30:01 It's 6.

30 pm, this is your evening politics bulletin from Sky News. Latest headlines: .