Business Standard

UK's Rishi Sunak unveils $46.6-bn package to cope with rising costs

'We will send to around 8 mn low income households a one-off payment of 650 pounds,' says British finance minister

Rishi Sunak. Photo: Bloomberg
Premium

British finance minister Rishi Sunak. Photo: Bloomberg

Press Trust of India London
British finance minister Rishi Sunak unveiled on Thursday a package of measures to try to ease a cost-of-living crisis for the public, saying the government support would amount to 37 billion pounds ($46.61 billion).

"That means we are supporting families with the cost of living with 37 billion pounds, or one and a half percent of GDP," he told parliament, adding that around three quarters of that total support would go to vulnerable households.

Sunak on Thursday tabled a series of measures in Parliament, including one-off payments for struggling families and a temporary levy on high profits of oil and gas companies,

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: May 26 2022 | 5:26 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com