Rishi Sunak to set out plan for 'stronger, more secure' economy in Spring Statement

Mr Sunak is expected to pledge to continue to "stand-by" hard-working families

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Rishi Sunak is expected to unveil a plan that builds a "stronger, more secure" economy during his Spring Statement on Wednesday.

The Chancellor looks set to announce further plans to support people during the rising costs of living, while also pledging to continue to “stand by” hard-working families.

Mr Sunak is also set to say that freedom and democracy remain the best route to peace, prosperity, and happiness, while adding that a strong economy is important to countering any threat posed by Russia.

Rishi Sunak
Rishi Sunak

In his Spring Statement to be announced on Wednesday afternoon, Mr Sunak is set 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.”

Mr Sunak is also set to announce how the Government plans to create a new culture of enterprise, with the private sector training more, investing more, and innovating more.

Support worth around £21billion will be used during the next two years to counter the cost of living rises, a figure which includes £9.1bn in Energy Bills Rebate.

The Government is also raising the National Living Wage to £9.50 per hour from April.