'Lower taxes are the best way to attract more investment.' trussliz tells KayBurley the windfall tax 'makes it more difficult to secure future investment into the UK' as the cost of living continues to rise. 📺 Sky 501, Freeview 233 and YouTube
Chancellor Rishi Sunak has said the government"cannot protect people completely" from rising inflation. He added that the figure has been"driven by the energy price cap rise", which came into effect in April.
The 'best thing' the government can do is attract more work - instead of imposing windfall tax, says foreign secretary She added that there is"no doubt" the economic situation is going to be"difficult" for people across Britain. "The last time inflation was that high was 40 years ago in 1982. And remember, coming into the early 80s, on the back of the big oil crisis, huge inflation in the 70s, so many lost jobs, it really changed the way that central bankers and governments thought about inflation. "There were a few drivers, particularly in the month of April - the month that the Ofgem price cap went up. VAT went up in the month of April.
Average energy bills have risen by nearly £700 to just under £2,000 a year in April, and the Bank of England is expecting another annual rise of £830 in October.
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