Rishi Sunak urged businesses to tackle the cost of living crisis – “Whatever it takes!” | Politics | New

Business leaders are asking the Chancellor to help businesses cope with the cost of living crisis as Britons in search of a penny continue to be hit by soaring prices. The new calls come as the Chancellor prepares for a Parliament Treasury Committee grill later today.

Mr Sunak is due to face MPs at 1.45pm.

The committee, chaired by Devon Central MP Mel Stride, comprises 11 MPs.

Commenting ahead of the session, Mr Stride said: “It is very welcome to see such a bold package presented by the Chancellor to support households in the face of the rising cost of living.

“Overall, this looks like an impressive and generally well-targeted intervention.

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“However, there are inevitably questions that arise, particularly around the impact that the intervention of the Chancellor could have on inflation.”

Businesses in particular have stepped up pressure on the Treasury to provide further aid to UK businesses.

MailOnline has claimed that forthcoming data from Make UK, which represents Britain’s manufacturing industry, will show that more than two-thirds of businesses say rising energy costs are causing a ‘catastrophic’ or ‘major’ disruption to their business. activity.

Verity Davidge, director of policy at Make UK, said: “Businesses are facing staggering cost increases that are becoming a matter of survival.”

He said: ‘We really need to see the Chancellor take action to ease the tax burden.

Calls for a reduction in the tax burden have also been made following Mr Sunak’s cost-of-living support measures in May.

John O’Connell, chief executive of the Taxpayers Alliance, said: ‘This cost-of-living bailout is little more than the government taking with one hand and giving with the other.

“Taxes are the biggest bill families face and these huge donations will see politicians boost the incomes of struggling taxpayers, creating a government crisis cost.

“If the Chancellor wants to boost growth and help households, he can deliver both now by bringing forward the planned income tax cut and cutting costly levies on energy bills.”

Bonny J. Streater