Finance Ministers Call For Urgent Action On Cost-Of-Living Crisis


Finance Secretary Conor Murphy has joined with finance ministers in Scotland and Wales to call for more targeted support for those hardest hit by the cost of living crisis

Ministers have urged the UK government to fund its energy price cap through a windfall tax rather than through increased borrowing.

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In a joint letter to the new Chancellor of the Exchequer, Kwasi Kwarteng, the ministers expressed concern that more action is needed to prevent further hardship for households and businesses, saying the support “will come through targeted windfall gains in the energy sector and not should be financed “passing on the costs through higher borrowing”.

Finance ministers are also calling for additional funds to support vital public services amid rising prices, energy costs and wage pressures, as decentralized settlements are worth significantly less in real terms than they were last October when they were set.

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