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Evening Standard
Evening Standard
World
Elly Blake

Downing Street set to hold weekly press conferences over cost of living crisis

Downing Street is looking at holding weekly press conferences on the cost of living crisis, according to government sources.

The news conferences would aim to keep the public informed on what the Government is doing to deal with the squeeze.

It is thought they would follow a similar format to the televised Covid-style briefings that took place during the height of the pandemic.

Ministers, including Boris Johnson and Chancellor Rishi Sunak, would speak during the proposed events, alongside officials and experts.

The weekly press conferences would keep people informed on issues such as soaring energy bills, inflation and support measures to help those struggling.

A source told the Times: “He wants to show people he’s on their side.

“He also wants to show them what we’re already doing in a bid to build confidence. He has the platform and he wants to use it.”

The proposed briefings would take place in Downing Street’s White House-style media briefing room, which cost £2.6 million to kit out.

Last week, Rishi Sunak unveiled a £15 billion emergency aid package to help millions of the most vulnerable households tackle the cost of living crisis.

The latest round of government support, in part paid for by a £5bn windfall tax, will see all households given a £400 grant to help with soaring energy bills.

The payment replaces an earlier plan for a one-off £200 rebate on people’s energy bills in October, which was supposed to be clawed back over five years.

Earlier this month, it was announced that inflation has climbed to its highest rate in 40-years.

Figures from the Office for National Statistics show inflation hit nine per cent in April, the highest level since 1982.

Inflation accelerated from March’s figure of seven per cent, driven by last month’s rise in the energy price cap.

The cap on maximum bills jumped by £693 to £1,971 in April.

House prices were 11.2 per cent higher in May than a year earlier, although the annual pace of growth is slowing, according to an index.

Across the UK, the average property value in April had been 12.1 per cent higher annually.

Prices also increased by 0.9 per cent month on month in May, taking the average house price to £269,914, Nationwide Building Society said.

Robert Gardner, Nationwide’s chief economist, said: “Demand is being supported by strong labour market conditions, where the unemployment rate has fallen towards 50-year lows, and with the number of job vacancies at a record high.

“At the same time, the stock of homes on the market has remained low, keeping upward pressure on house prices.

“We continue to expect the housing market to slow as the year progresses.

“Household finances are likely to remain under pressure, with inflation set to reach double digits in the coming quarters if global energy prices remain high.”

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