Snack, the UK’s candidate for prime minister, plans to cut £200 in utility bills

In The Times, he said each household could save around £200 ($244) in energy bills by cutting value-added tax (VAT).

The UK is preparing for energy bills already more than tripling this year, and charities are warning that millions of people could fall into poverty if the government does not launch a multibillion-pound rescue package to cushion the blow.

Sunak, one of the underdogs in the leadership race behind frontrunner Liz Truss, said his plan would include “support for the most vulnerable, support for retirees, and some support for everyone”. (https://bit.ly/3K3rIYx)

The former finance minister said the most vulnerable people and retirees would get money to pay for energy through the welfare system.

Sunak also said he would pay for the plan by leading a program to create savings across the government. “It could mean that we have to stop or stop some things in the government.”

He added that he was prepared to provide “some limited and temporary one-time loans as a last resort to get through this winter.”

“As energy prices continue to rise, the government is also likely to earn more revenue from the energy profits introduced by Levy,” he added, referring to a 25% windfall tax on profits of oil and gas producers. Presented as Minister of Finance.

Sunak’s rival, Secretary of State Truss, has so far said she favors tax cuts for families, rather than funneling money through energy aid.

Truss also said on Wednesday she would work with energy companies to lower prices if she became prime minister. Critics say the tax cuts will favor the rich over the poor.

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Megan Vasquez

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