- Chancellor expected to unveil Spring Statement that builds a
stronger, more secure economy for the United Kingdom.
-
will set out further plans
to support people with the rising cost of living and pledge to
continue to “stand by” hard-working families during the
challenging times ahead.
- He will say that freedom and democracy remain the best route
to peace, prosperity, and happiness and that a strong economy is
fundamental in enabling us to counter the threat Russia poses to
our values.
The Chancellor will today deliver a Spring Statement that builds
a stronger, more secure economy for the United Kingdom.
With people across the UK facing growing pressures exacerbated by
the war in Ukraine, will pledge to continue to
“stand by” hard-working families and outline further plans to
help with the rising cost of living.
Alongside Britain continuing its “unwavering” support to Ukraine,
he will add that a stronger economy is vital in responding to the
threat of President Putin and that freedom and democracy remain
the best route to peace, prosperity, and
happiness.
Delivering the Spring Statement, Chancellor is expected to say:
“We will confront this challenge to our values not just in the
arms and resources we send to Ukraine but in strengthening our
economy here at home.
“So when I talk about security, yes – I mean responding to the
war in Ukraine.
“But I also mean the security of a faster growing economy.
“The security of more resilient public finances.
“And security for working families as we help with the cost of
living.”
The Chancellor’s statement is also expected to set out how the
government plans to create a new culture of enterprise, with the
private sector training more, investing more, and innovating
more.
The Spring Statement will build on government support worth
around £21 billion this year and next to help families with the
cost of living.
That includes the £9.1 billion Energy Bills Rebate, putting an
average of £1,000 more per year into the pockets of working
families via changes to Universal Credit and freezing fuel and
alcohol duties to keep costs down.
The Government is also raising the National Living Wage to £9.50
per hour from April, meaning people working full time on the
National Living Wage will see a £1,000 increase in their annual
earnings.
And the Government’s Plan for Jobs is also helping people into
work and giving them the skills they need to progress – the best
approach to managing the cost of living in the long term.
