Rishi Sunak threatens oil and gas giants with windfall tax on profits Business

Mr Sunak also strongly hinted he would do more to help families if there was another sharp rise in household bills in October, when the energy price cap is set to rise again.

He said: “I’ve always been clear from the start – we’ll see what happens and then depending on what happens to the bills, of course if we’re going to take action and support people, we will.

“It would be silly to do this now or last month or the month before when we don’t know exactly what the situation will be in the fall.”

Mr Sunak has been criticized by Mumsnet users for being out of touch with families living on a budget. One told her that she “couldn’t imagine what it’s like to live in your very privileged financial situation. How can you have the understanding and empathy for what it’s like to Wrestle?”

Another, who is in her 30s and expecting her first child, told the Chancellor she was worried about having a baby given the current economic climate.

Mr Sunak, who is said to have a personal worth of £200million after a career as a hedge fund manager, argued to be judged on his work and not his wealth.

He said: “I hope people can judge me on my actions, I don’t judge people on the money they have in their bank account.

“I didn’t start like that. My grandparents migrated here with very little, built a life for themselves, and my parents carried on and wanted to work hard to give me and my brother and sister, a better life.

“That’s how I was raised and how I was raised – and now I’m in a privileged position. But that’s not how I started. That’s not how my family started . I never forget the values ​​that I grew up with. I then try to express those values ​​through the work that I do in this work.”

He said his concern over a possible spike in mortgage interest rates was the reason he was opposed to borrowing more to pay for additional government spending, adding: “I’m very much aware that I don’t want the Mortgage rates are rising more than they already are going up.”