Spring 2022 statement – ​​live: Boris Johnson faces PMQs as Rishi Sunak admits financial outlook is ‘difficult’ Business News

Watch live as Boris Johnson takes on PMQs ahead of Rishi Sunak’s mini budget statement

Chancellor Rishi Sunak is under increasing pressure to use today’s mini-budget to help people manage their finances as inflation hits its highest level in 30 years.

The consumer price index inflation rate jumped to 6.2% in February from 5.5% in January, the ONS said on Wednesday morning.

The Government has insisted it will not change the planned increase in National Insurance contributions, but the Chancellor may cut fuel taxes to help drivers.

Meanwhile, voters overwhelmingly support a windfall tax on North Sea oil and gas companies to help families with rising energy bills, a new poll for The Independent found.

A Savanta ComRes survey for The Independent found that the majority of voters – including among Tory voters – support scrapping the 1.25 percentage point hike in National Insurance contributions next month.

A majority also support a reduction in fuel tax and the introduction of a minimum wage of £10 an hour. Families are facing a further blow to their finances next month, with the average £700 rise in annual household gas and electricity bills set to take effect.


Boris Johnson says P&O broke the law and Government ‘will take them to court’ despite Grayling’s exemption

Speaking during Prime Minister’s Questions, Boris Johnson said it appeared P&O Ferries had ‘broken the law’ by firing 800 workers without notice – promising the government would ‘prosecute’ them.

“It seems to me that the company has broken the law, and we will take action accordingly, and encourage workers to take action,” the Prime Minister told the Commons in PMQ.

Mr Johnson said the company concerned had a duty to notify the Government of the redundancies “45 days before taking any such action”.

Adam ForestMarch 23, 2022 12:16


Rishi Sunak had admitted the financial outlook was ‘challenging’ due to soaring inflation

Chancellor Rishi Sunak told the cabinet that the financial outlook was “difficult” due to soaring inflation and the Russian invasion of Ukraine, Downing Street said.

Mr Sunak provided the update ahead of his spring statement at 12:30 p.m. today.

A statement provided by No 10 on Mr Sunak’s briefing said: ‘The Chancellor provided an update on the economic and fiscal situation and described the outlook as challenging given the global shocks we are facing following of the conflict in Ukraine and rising inflation.

“He said that throughout the pandemic the government has shown the British people that we are on their side and will continue to support them through the uncertainty we currently face.

“He described how the sensible management of public finances enabled the government to step in and help people with £9bn of support for their energy bills in February.

“He said this government will continue to take a responsible and sustainable approach so it can build a stronger and more secure economy for the future.”

Holly BancroftMarch 23, 2022 12:14 p.m.


Boris Johnson: ‘It looks like P&O broke the law and we are going to take them to court’

Speaking about the P&O dismissal scandal, Prime Minister Boris Johnson said it “appears the company concerned has broken the law”.

He said ‘we will take action to protect all seafarers working in UK waters to ensure they all receive a living wage’.

Mr Johnson promised to take action in court, saying: ‘So we will take action and we will encourage workers to take action.’


Holly BancroftMarch 23, 2022 12:11


Breaking: Rishi Sunak tells cabinet that economic outlook is ‘difficult’ – reports

Break: Chancellor Rishi Sunak told Cabinet the economic outlook was “difficult” given the “global shocks we are facing” from the war in Ukraine and rising inflation, Downing Street said.

Holly BancroftMarch 23, 2022 12:03


Angela Rayner hits out at Rishi Sunak’s ‘work starts tomorrow’ promise

Deputy Labor leader Angela Rayner has denounced Rishi Sunak for promising to bring economic security to people “tomorrow”.

In a social media post by the Chancellor last night, Mr Sunak promised to deliver ‘greater economic security for our people, accelerating growth and productivity’. He added: “It’s not the job of a single statement. But that work starts tomorrow.

Mrs. Rayner replied, “His Party has ruled this country for twelve years. If the economic security work for Britain is only starting today, I can now relate to some of the decisions made over the last decade to hammer the working people’.

Holly BancroftMarch 23, 2022 11:59 am


Boris Johnson heads for Prime Ministers Questions



Holly BancroftMarch 23, 2022 11:55 am


Martin Lewis: “The UK is on the brink of a personal finance crisis…

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This notice was published: 2022-03-23 12:12:08

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