Tax Cuts Will Not Help Families In Crisis, Says Sunak

Rishi Sunak yesterday declared voters deserve “clear-eyed realism and not starry-eyed boosterism” over the cost-of-living crisis.

- Michael Knowles

The economy has been the main battleground between Mr Sunak and Liz Truss. And the former chancellor yesterday condemned the Foreign Secretary’s plan to reverse the hike in National Insurance.

Accusing the foreign secretary of taking a risk with savings and pensions, Mr Sunak said his priority was not to take measures that will cause damage.

Someone earning £24,100 a year would save £180 under Liz Truss’s plan to reverse the increase in National Insurance, according to HMRC, while higher-paid workers would gain considerably more.

The Tory leadership contender said: “The priority for me is not to do things that make it worse and I think putting £40billion plus, and borrowed money, into an economy that’s seeing an inflation spiral does risk doing so.