The Indian-origin British prime ministerial candidate has announced plans to cut energy bills to tackle rising housing costs. Sunak has promised that each household will see a saving of around £200 on their energy bills with reduced value added tax. Not-for-profit organizations continue to warn that millions of Britons could be pushed below the poverty line as Britain braces for higher energy bills to more than triple this year.
The only way to prevent that from happening is seen as the government launching a multi-billion pound bailout package to cushion the blow from rising inflation. In this situation, Sunak is currently behind in the race for the post of British Prime Minister and the post of the leader of the Conservative Party. Foreign Secretary Liz Trusibin continues in the presence. Sunak, a former finance minister, said his plan would include support for the most vulnerable, support for pensioners and some support for everyone.
Also during his tenure as finance minister, Sunak introduced a heavy tax of 25% on the profits of oil and gas producers. As energy prices continue to rise, the government may raise more revenue from the energy profit tax introduced by me, he said. Meanwhile, Sunak’s rival, Truss, has announced that he would prefer tax cuts for families rather than getting money back through energy subsidies. And if elected as the next prime minister, Truss has promised to work with energy companies to lower prices.
However, Sunak’s supporters have argued that the tax cuts will favor the rich over the poor. Conservative MPs will cast their votes through online and postal ballots throughout this month to choose Britain’s next prime minister.