Nadhim Zahawi says things will be ‘really hard’ for middle-earners, as well as society’s most vulnerable.
The Chancellor has suggested those earning around £45,000 annually could struggle to cope with soaring living costs as households prepare for another painful price hike over the winter.
Her rival Rishi Sunak has already said he will provide additional support targeted at the most vulnerable. “If you’re a pensioner, it’s really hard. So Universal Credit is a really effective way of targeting, but I’m looking at what else we can do to make sure we help those who really need the help. We’re looking at all the options.”
He also reportedly said he is weighing up potential action to help small firms including Covid-style cuts to VAT and business rates to support the hospitality and leisure sectors. Another option on the table is granting large loans to energy suppliers to help cut bills by up to £500 a year, the newspaper said.
She has argued it is not “right” to announce her full plan before the contest is over or she has seen all the analysis being prepared in Whitehall.
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