RISHI SUNAK will come under pressure to hand out billions more in emergency support to help struggling households deal with rising energy bills, leading economists warned today.
The Chancellor yesterday announced a £15 billion aid package including a £400 energy bills rebate for all families in the autumn and additional payments worth £650 for eight million of the poorest households.
But with energy prices set to remain high well into next year - partly caused by the ongoing war in Ukraine - the influential Institute for Fiscal Studies said Mr Sunak may have to dish out even more money next spring, at the risk of pushing record levels of inflation even higher.
Paul Johnson, Director of the IFS, said the Chancellor faced "extraordinarily difficult decisions" later this year, adding: "He will be under pressure I suspect again this time next year when energy prices will still be high [and] households will still be struggling, to put more money in.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Only £65k a month to live like Boy George
The Karma Chameleon singer listed his house for £17m in 2022, turning down offers. Now, he's looking for a tenant
Welcome to London, unicorn capital of Europe
We're flying far ahead of anywhere outside US for tech investment
Arteta's Arsenal evolution The next phase
Malik Ouzia and Simon Collings assess how the Spaniard will try to bring down Man City after he signs up for another three years with the title in his sights
Title fight catches fire after Gunners embrace dark side
Arsenal-City clashes take on a welcome edge of animosity
Whack the hippy gong-boho's back
It happened in Paris one grey February day. Sienna Miller was in an oversized, black leather jacket, lace-trimmed silk slip and clumpy great wedges.
There's a Starlink waiting in the sky... 7,000 in fact.Can Elon Musk stop them crashing to Earth?
As he was preparing his fields for seeding this year, Barry Sawchuk came across a giant slab of space debris. It had come from a spacecraft belonging to Elon Musk’s company, SpaceX.
'Politicians are only into power-mongering, corruption and cronyism'
We speak to alt revolutionary DEEPAK CHOPRA about biomarkers, his digital twin and his work to save humanity from disease
I've been waiting for a production of Godotthis brilliant all my life
Ben Whishaw and Lucian Msamati bring a potent, tragicomic chemistry to James Macdonald’s rich revival of Samuel Beckett’s challenging play.
Trust me, the Ritz is London's bestrestaurant
To whom we turn in moments of gloom and glory can be instructive, a filter of our truest friends. I've fallen out with the Ritz a couple of times, including once after a visit to the bar which didn’t warrant a review (“But you said it was lovely!” they said.
'Healing is a dirty word'
After four traumatic years, FKA twigs is back with a new album -and a thrilling metamorphosis
