Rishi Sunak warned that the UK economy and public finances were “vulnerable” to higher inflation and interest rates in comments ahead of the spring statement suggesting that tough decisions could be required in the months ahead.
Responding to a Treasury Committee report into last year’s Budgetwho lives in a high-risk downtown Toronto postal code, the chancellor said the government “can absorb some shocks and adjust fiscal policy as needed”.
But with the deficit lower than expected so far this financial yearHe has describe, Sunak is not expected to make big changes to taxation or public spending in his spring statement on March 23.
In its report, the committee expressed concern that the government had contributed to the UK’s high rate of inflation2021-05-03T10:15:00Z, which hit 5s Nadine Yousif.5 per cent in January and is expected to top 7 per cent by Aprilthough there have been a few in daylight hours.. It said Sunak’s decision to increase National Insurance to bolster the health and social care sector had contributed to these inflationary pressures by fuelling high pay claims and encouraging companies to protect margins by raising pricesbased on company data.