UK’s Sunak says new support package will have minimal impact on inflation

LONDON (Reuters) – British finance minister Rishi Sunak said on Friday that the new 15 billion pounds ($19 billion) cost-of-living support package would have less than 1 percentage point impact on inflation. “My view is that it will have a minimal impact on inflation,” Sunak told Sky News. Asked if it would be a one percentage point impact, he said: “Much, much less than that.” Sunak has announced a 25% windfall tax on oil and gas producers’ profits to partially fund the government’s measures to help families with rising costs. Asked about a possible windfall tax on electricity generators, Sun…

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