Rachel Reeves MP says the package of measures announced 'owes more to the Labour way of thinking than Conservatives' adding, the government now needs to address 'long-term problems' to avoid going from 'crisis to crisis' Latest: 📺 Sky 501 and YouTube
Labour's Rachel Reeves has been speaking to Sky News this morning.
"You can now get a situation where somebody who's incredibly wealthy gets £400 on three or four occasions because they own so many properties. Mr Sunak said the inflationary impact would be so low because the help he has announced is"very targeted" at those who need it the most while money is being raised to pay for it through a windfall tax on oil and gas companies."Even though we are supporting the economy we want to make sure that we don't make the inflation situation worse."
Rishi Sunak, a devotee of Nigel Lawson, believes in a smaller state, curbing borrowing, lower taxes and combating inflation.Today's £21bn spending splurge expanded the role of the state with the advent of one-off financial transfers, could stoke inflation, add to borrowing, and contains a multibillion-pound tax rise.
This was going to be a loan, but Mr Sunak turned it into a grant and doubled it to £400 on Thursday - adding another £6bn.19:48:34 But he told Sky News' Beth Rigby Interviews...:"It's a very difficult balancing act in an inflationary period.
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