Autumn statement – latest: Labour running economy just as dangerous as Liz Truss, claims Rishi Sunak – UK Times

Rishi Sunak said that now inflation had been halved the government could “turn our attention to cutting taxes”, Adam Forrest reports

The PM refused to get drawn into “individual taxes” ahead of chancellor Jeremy Hunt’s autumn statement on Wednesday.

But Mr Sunak said he was focused on tax cuts that would “get the economy growing … on the supply side” – suggesting it would be personal and business tax, rather inheritance tax.

The Tory leader took a swipe – possibly at some of his own MPs on the right – who push “simple, fairytale” tax cuts and subsidies. He added: “We can’t do everything all at once. It will take discipline and we need to prioritise.”

Rishi Sunak has outlined “five long-term decisions” he claimed to be making for the British economy, Adam Forrest reports.

They would focus on reducing debt, cutting tax, building sustainable energy, backing British businesses and delivering world-class education.

At the start of the year Mr Sunak offered five big promises – some of which have not been going very well. They were stopping the boats, cutting NHS waiting lists, halving inflation, growing the economy and getting debt falling.

Rishi Sunak has claimed handing over the UK economy to Labour would be “just as dangerous” as Liz Truss’s stewardship of the economy.

He claimed Keir Starmer and Rachel Reeves wanted to continue the “big government, big spending approach” of the Covid pandemic, pointing to the opposition’s £28bn green business plan.

“This makes the same economic mistake as last year’s mini-budget – blowing tens of billions of pounds on unfunded spending is just as dangerous as blowing tens of billions of pounds on unfunded tax cuts.”

The Tory leader pointed to his own background in business, as he attacked Labour for having “no experience” in the area.

Suggesting he is well aware of his own unpopularity, Mr Sunak finished his speech by saying: “Whether you like me or not, I hope you know when it comes to the economy … I’ll always take the rights decisions for our country.”

Households are set to learn that their energy bills will rise again from January as hopes for relief from the cost-of-living crisis are put on hold.

Ofgem will announce its latest price cap on Thursday, with energy consultancy Cornwall Insight predicting it will increase from the current £1,834 for a typical dual fuel household to £1,931 – a 5% jump to take effect from January to March.

Josie Clarke has the full report:

Rishi Sunak said “no parent should ever have to watch their child starve” as he opened the Global Food Security Summit in London on Monday.

The prime minister also launched a white paper setting out the government’s long-term approach to international development more broadly up to 2030.

Speaking at the gathering at Lancaster House, Mr Sunak announced a new virtual hub to link UK scientists with global research initiatives aiming to develop climate and disease resistant crops.

He said: “In a world of abundance, no one should die from lack of food, and no parent should ever have to watch their child starve.”

On the Israel-Hamas conflict, Mr Sunak reiterated his stance that Israel has the right to defend itself, but added: “It must also act within international humanitarian law.

“The situation on the ground is truly tragic and getting worse.”

The government needs to do more to bring down energy bills and tackle the cost of living crisis, a shadow minister has said ahead of the autumn statement.

James Murray, shadow financial secretary to the treasury, said ministers should invest more in clean energy and the insulation of homes to reduce the cost of gas and electricity.

“There’s plenty the government should be doing,” he told Sky News. “But they should be focused on tackling the cost of living crisis and getting the economy growing”.

Jeremy Hunt’s plan to cut inheritance tax will be pushed back until next year, according to reports.

The move had been heavily trailed in recent weeks but the chancellor was said to be reconsidering amid a backlash against a tax cut for the rich amid a cost of living crisis.

Labour’s shadow chancellor Rachel Reeves said on Sunday that cutting inheritance tax should not be a priority for the government.

The Financial Times, Daily Mail and others report the measure will not be in Wednesday’s statement.

Gareth Davies said there are “no plans” to reduce the number of pensioners eligible to receive winter fuel payments, Archie Mitchell reports.

A leaked recording obtained by the Telegraph suggested Paymaster General John Glen has questioned the policy of universal winter fuel payments to wealthy pensioners, but the exchequer secretary to the Treasury told Sky News: “We are not going to be touching the winter fuel allowance.”

Mr Davies said: “But we have a strong record of supporting pensioners so we will always stand by our pensioners to ensure they have a dignified retirement and security in retirement.”

Pressed on whether he was ruling out means testing the benefit, the MP replied: “We have no plans to change the winter fuel allowance.”