Chancellor warns homeowners mortgage payments could rise by more than £1,000 as interest rates increase to 2.5 per cent over next year
The Chancellor warned cabinet colleagues to avoid borrowing more to fund public spending as it risked stoking inflation even further. He warned that a 1 percentage point increase on a typical mortgage would result in an extra £700 for those not on fixed-rate deals. Mr Sunak, who is facing pressure from Tory MPs to ease pressure on people during the cost of living crisis, was quizzed yesterday by Mumsnet about how someone in his position can empathise with hard-up Britons.
Susanna Reid confronts Boris with days to go until local elections and asks about pensioner Elsie 'who rides the bus ALL DAY because she can't afford to heat her home' ... but all he can say is he gave her a free bus pass
Boris Johnson boasted of giving free bus passes to pensioners today - after being told about a 77-year-old widow who travels London all day because she cannot heat her home. The Prime Minister faces an uncomfortable grilling on Good Morning Britain today about the cost-of-living crisis facing Britons, including soaring bills. Presenter Susannah Reid raised the plight of Elsie, whose energy costs in her council flat have risen from £17 to £85 a month. In the No10 interview, Ms Reid told how Elsie leaves home early and rides buses using a freedom pass, which allows the over-60s on London unlimited travel, in order to not have to heat her flat. Asked what else Elsie should cut back on, he said: 'I don't want Elsie to cut back on anything, let's talk about Elsie and what we are doing and - just to remind you that the 24-hour freedom bus pass was something that I actually introduced.' 'So Elsie should be grateful to you for her bus pass? What else should she cut back on?' Ms Reid replied. Mr Johnson went on: 'There are plenty of things more that we are doing. What we want to do is make sure we have people who are in particular hardship looked after by their councils, we are putting much more money into local councils. We have the particular payments to help elderly people in particular with the cost of heating.'
Life in 10% inflation Britain: Energy bills UP £800, annual food costs UP by £270 and real wages DOWN by £1,200... as mortgages are set to soar by THOUSANDS amid cost of living crisis
The Bank of England expects the Ofgem energy cap to rise by an average of £788 from £1,971 in April to £2,759 in October, making it the biggest factor in rampant inflation.
Jacob Rees-Mogg issues warning over cost of living crisis The senior minister urged caution around increased public spending with inflation likely to be pushed even higher as a result
Comments
https://www.msn.com/en-gb/news/uknews/rishi-sunak-hints-at-u-turn-on-uk-oil-and-gas-windfall-tax/ar-AAWFpj1?ocid=msedgntp&cvid=1e29d05a82914e76b79e51f4bf51b065
https://www.msn.com/en-gb/money/other/now-brits-pay-more-than-half-their-earnings-to-hmrc-sunak-s-income-tax-rate-hits-62-1/ar-AAWDI9T?ocid=msedgntp&cvid=1e29d05a82914e76b79e51f4bf51b065
https://www.msn.com/en-gb/money/other/tax-mad-sunak-is-squeezing-us-until-the-pips-squeak-and-middle-earners-are-hurting-most/ar-AAWGk3Y?ocid=msedgntp&cvid=18c371c57d484de39216fdb2ca10c1ed
The Chancellor warned cabinet colleagues to avoid borrowing more to fund public spending as it risked stoking inflation even further. He warned that a 1 percentage point increase on a typical mortgage would result in an extra £700 for those not on fixed-rate deals. Mr Sunak, who is facing pressure from Tory MPs to ease pressure on people during the cost of living crisis, was quizzed yesterday by Mumsnet about how someone in his position can empathise with hard-up Britons.
https://www.dailymail.co.uk/news/article-10761407/Sunak-threatens-oil-gas-giants-windfall-tax-dont-invest-UK-energy-supplies.html
https://www.msn.com/en-gb/money/other/rishi-sunak-says-it-would-be-silly-to-give-people-more-support-with-bills-now/ar-AAWG8hf?ocid=msedgntp&cvid=336c2fa0531d4c38a19741ad29c587a1
https://uk.yahoo.com/finance/news/chancellor-rishi-sunak-breaks-pledge-103105727.html
https://video.dailymail.co.uk/preview/mol/2022/05/03/7026910601065902469/964x580_MP4_7026910601065902469.mp4
Boris Johnson boasted of giving free bus passes to pensioners today - after being told about a 77-year-old widow who travels London all day because she cannot heat her home. The Prime Minister faces an uncomfortable grilling on Good Morning Britain today about the cost-of-living crisis facing Britons, including soaring bills. Presenter Susannah Reid raised the plight of Elsie, whose energy costs in her council flat have risen from £17 to £85 a month. In the No10 interview, Ms Reid told how Elsie leaves home early and rides buses using a freedom pass, which allows the over-60s on London unlimited travel, in order to not have to heat her flat. Asked what else Elsie should cut back on, he said: 'I don't want Elsie to cut back on anything, let's talk about Elsie and what we are doing and - just to remind you that the 24-hour freedom bus pass was something that I actually introduced.' 'So Elsie should be grateful to you for her bus pass? What else should she cut back on?' Ms Reid replied. Mr Johnson went on: 'There are plenty of things more that we are doing. What we want to do is make sure we have people who are in particular hardship looked after by their councils, we are putting much more money into local councils. We have the particular payments to help elderly people in particular with the cost of heating.'
https://www.dailymail.co.uk/news/article-10777741/Boris-told-pensioner-rides-bus-day-warm-says-gave-free-pass.html
https://uk.yahoo.com/news/picture-cost-living-boris-johnson-161424744.html
The Bank of England expects the Ofgem energy cap to rise by an average of £788 from £1,971 in April to £2,759 in October, making it the biggest factor in rampant inflation.
https://www.dailymail.co.uk/news/article-10789513/UK-inflation-latest-energy-bills-food-mortgages-by.html
https://www.msn.com/en-gb/money/other/martin-lewis-explains-how-those-not-entitled-to-council-tax-rebate-can-still-get-150/ar-AAX0XEw?ocid=msedgntp&cvid=2cec64688b3547618c9c3edf0677ce9e
https://uk.yahoo.com/news/queens-speech-action-tackle-cost-of-living-crisis-almost-completely-absent-151948686.html
The senior minister urged caution around increased public spending with inflation likely to be pushed even higher as a result
https://www.stokesentinel.co.uk/news/uk-world-news/jacob-rees-mogg-issues-warning-7055114