British Prime Minister Rishi Sunak has reportedly decided to postpone the childcare reform policy indefinitely. Sunak’s shelving of the policy comes as the reforms that are reportedly being considered are narrowing down.
The Telegraph reported Sunday that Sunak has decided to indefinitely postpone an overhaul of the country’s childcare policy. The reforms of the childcare system would have helped parents save money and return to work. The policy reform’s reported indefinite postponement comes as Sunak’s government is considering a smaller amount of reforms than before.
A report by The Times last week said Sunak is also set to cut down on financial support on energy bills for businesses due to concerns about the cost. Finance minister Jeremy Hunt will reportedly announce a “12-month extension to the scheme but with the level of support more than halved amid concerns about taxpayers’ exposure to fluctuating energy prices,” according to the newspaper.
The report by the newspaper follows the reports of the British public’s borrowing in November hitting a record high, reflecting the cost of energy subsidies, debt interest, and the reversal of increased payroll taxes. The new plan is expected to cost less than £24 billion in a span of 12 months, compared with the existing £40 billion plan.
Businesses would receive a discount of up to £345 for a megawatt hour of electricity and £91 for a megawatt hour of gas, according to the report.
On Tuesday, the British Department of Work and Pensions announced that low-income households in the country would receive cost-of-living monetary support of up to £900. The money will go directly into the claimants’ bank accounts in three payments over the fiscal year.
The cash support was first announced by Hunt during his Autumn statement, along with several tax hikes and reduced public spending. At the time, no details were provided on the payment schedule.
The department added that there would be a separate £150 for more than six million disabled people and £300 for eight million pensioners.
The latest financial support also follows the previous £1,200 cash support program for low-income households in 2021 as the country grappled with a cost-of-living crisis.