Rishi Sunak has promised to cut taxes for businesses to tackle the cost of living crisis
Speaking at the annual CBI dinner on Wednesday, Mr Sunak warned of a "tough" few months ahead and promised to cut tax for businesses to enable them to invest and train.
"Our role in Government is to cut costs for families. I cannot pretend this will be easy. The next few months will be tough, but where we can act, we will," he told businesses."And as I’ve said previously, our firm plan is to reduce and reform your taxes to encourage you to do all those things.
On Wednesday hopes of a windfall tax on energy companies to help tackle the crisis were dashed by No10 despite Treasury officials reportedly believing it is unavoidable. The Treasury believes a windfall tax is "politically unavoidable" because of the strong message of solidarity it would send to the British public, The Times reports.But the paper says Boris Johnson's advisers are resisting the move on the grounds it is "unconservative".A combination of soaring inflation, rising bills and hikes in national insurance and council tax have left more people struggling to make ends meet.
The Government has been falling under increasing pressure to do more to help people cope - in particular, introducing a one-off windfall tax on big oil and gas companies.
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