Rishi Sunak to announce new measures to help people amid cost of living crisis

Rishi Sunak is set to announce a new support package to help tackle the cost of living crisis affecting millions of households across the country. The Chancellor is expected to unveil his new plan on Thursday (May 26) in the wake of the fallout from the partygate scandal.

It is widely expected that a windfall tax on oil and gas companies will generate funds to support the most vulnerable. It will be part of a set of measures expected to be worth around £10bn, which could also include a higher discount on heating to help low-income households deal with soaring energy bills.

Measures have also been discussed to increase the winter fuel allowance.

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It comes after Ofgem chief executive Jonathan Brearley indicated that the energy price cap will increase to £2,800 in October. The Chancellor must also be careful to not introduce a package which could further raise inflation which is already at a record high.

Mr Sunak is also hindered somewhat by the the nation's finances which the Prime Minister indicated is in a 'very difficult fiscal position'. due to the coronavirus pandemic. At a Downing Street press conference, he acknowledged households 'are going to see pressures for a while to come' as a result of the spike in global energy prices and supply chain problems following the pandemic.

He added: "We will continue to respond, just as we responded throughout the pandemic. It won’t be easy, we won’t be able to fix everything.

"But what I would also say is we will get through it and we will get through it well.” Environment Secretary George Eustice told LBC: "We are treading a very difficult path here because if we just borrow lots more money