Rishi Sunak unveils a new plan to ease Britain’s cost-of-living squeeze

Save time by listening to our audio articles as you multitaskThe most important test for Mr Sunak was the extent to which he funnelled support towards the most vulnerable. On this score he did pretty well. The chancellor announced that households on means-tested benefits will be given an extra £650, to be paid in two lump sums, one starting in July and one in the autumn. Pensioners will get an extra payment of £300; the disabled will get another £150.

When a windfall tax was first mooted, the Conservatives themselves were opposed on the ground that it would chill investment just as energy companies should be committing more capital to combat climate change. Businesses would worry that the tax regime was becoming more arbitrary and less symmetrical, with a risk of additional taxes in good times and no relief from them in bad. “Unconservative,” said some.

To mute its deterrent effect, the new levy will be lower for companies that invest in Britain. But it is not always easy for firms to put capital to work quickly. Alastair Syme of Citigroup, a bank, says that, for example, could put more cash into existing oil and gas facilities to raise capacity, but it’s “at the margin stuff”. New investments in the renewables sector are constrained by government-controlled factors like planning permission and licensing processes.

Are u-turns worth it? Even when people like it, you are still wrong!

But your clients wil not tolerate this. Be careful. This may be dangerous.

Economic populism is dangerous. Lazy decision making puts the long-term vibrancy of the UKEconomy at risk. Gov't action has increased cost of capital for UK infrastructure and reduced attractiveness of investment. The long-term costs will be meaningful. Rational policy needed

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