The Chancellor has pledged to help “where we can make a difference” as he is under pressure to help households with rising living costs.
Ahead of next week’s spring declaration, Rishi Sunak told the BBC he would “stand by” the people, but warned sanctions against Russia are not “free”.
He faces calls from some Tory MPs to lower fuel taxes to stem rising costs at the pump.
His Labor colleague Rachel Reeves said her party would support such a move.
But the shadow chancellor said the government should also tax oil and gas companies to fund more generous energy rebates for poorer families.
And she reiterated Labor’s call for ministers to end the 1.25 percentage point increase in Social Security, which is due to start in April.
- Why is the cost of living rising?
- Humans are faced with a choice between food and energy
- What Tory MPs want from Sunak
The spring statement isn’t usually an opportunity to announce big tax and spending decisions.
But this year, Mr. Sunak faces pressure to improve living standards amid rising energy costs and rising household bills due to rising inflation.
More than 50 Tory MPs have urged him to cut the fuel tax that has been frozen for over a decade in a bid to bring down petrol and diesel prices.
Others within his party have called on the government to scrap VAT on energy bills – while others call for scrapping environmental taxes to cut costs.
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