Cost of Living: Government “Cannot Solve All Problems or Save All Businesses,” Minister Says | Political news

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The government is trying to do all it can to fight the cost of living ‘storm’ but cannot solve all the problems or save all businesses, a business minister has told Sky News.

Paul Scully played down the immediate likelihood of tax cuts to help struggling households by pointing to “tight” public finances and soaring national debt after the pandemic.

Following the resignation of Boris Johnson’s ethics adviser Lord Geidt, Mr Scully also insisted the Prime Minister wanted to draw a line under the partygate scandal, saying people were more concerned about the outbreak costs and pressure on their finances.

Mr Scully said: “We are trying to do everything we can to address the cost of living issue. This is a global situation.

“We have to do everything we can to weather this storm.”

While underscoring the Chancellor’s support, Mr Scully warned: “The Government cannot solve all the problems. It will not be able to rescue all businesses and work with everyone’s individual costs, but we will do all we can. as part of the remit of maintaining tight public finances as well.

“Because we are servicing our national debt. We are paying something like £85billion just to service our debt – not to go to schools, hospitals.”

He also insisted that discussions on tax cuts should wait for the fall budget.

Mr Scully claimed it was a low-tax government despite overseeing the highest tax burden in 70 years.

He said: “The general principle of the party is to have low taxes

“What I don’t want to do is budget months in advance.

“There will be no tax cuts now as this will be dealt with in a budget in the fall.”

Pressed by Lord Geidt’s departure, Mr Scully said the Prime Minister was looking to move on.

The minister said: “He rightly wants to draw a line under the so-called partygate because people are more worried about the cost of living, what it’s going to mean for their mortgages and their bills in the days and the coming months.”

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