Chancellor Rishi Sunak said “heavy investment in public services” will be at the center of his plans to rebuild the economy when he starts. its budget next week.
Speaking on BBC One’s Andrew Marr Show, he said he will drive growth by spending on infrastructure, innovation and expertise.
But he said he didn’t have a “magic wand” to make the rising costs go away.
The work wants the VAT on the energy bill to be reduced to zero helps families.
- Six things that could affect you in the Budget
- Ministers pledge £ 500 million to support young families
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Shadow Chancellor Rachel Reeves, who also spoke on the same program, said many families are facing a “harsh winter” and were worried about putting food on the table and heating their homes because prices were going up “on everything”.
Mr. Sunak will present his budget on Wednesday amid concerns from some in his own party that rising energy prices, inflation and tax hikes are causing a UK cost of living crisis.
He said he was forced to face challenges in the past 18 months of the pandemic that he would not choose to address.
But he said ministers have taken steps to protect jobs and it’s time to look to the future and reshape the economy.
And he said public sector workers would find out Wednesday if they would receive a pay raise.
- Rishi Sunak
- Budget 2021
Six Things That Could Affect You in the Budget
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Ministers pledge £ 500 million to support young families
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The Chancellor allocates funds for vocational training
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