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Economics

Rishi Sunak Concerned That Support Package May Drive Up Inflation

  • Help for households “comparable” to EU peers, Sunak tells MPs
  • Offsetting income shock “not advisable” given inflation risks
Shoppers walk along a street in Covent Garden, London, UK.

Shoppers walk along a street in Covent Garden, London, UK.

Photographer: Chris J. Ratcliffe/Bloomberg

Rishi Sunak has revealed he harbored concerns over the inflationary impact of extra spending as he put together his £15 billion ($19 billion) support package to help poorer households with the cost of living crisis.

Speaking to MPs on the Treasury committee, the chancellor of the exchequer said he had been careful “to make sure fiscal policy was responsible in that context.”