Rachel Johnson urges Government to act before 'financial timebomb explodes'

7 August 2022, 20:57

"We need to do stuff now!"

Rachel Johnson has argued the Government needs to take action now to tackle the cost-of-living crisis, rather than waiting until a new Prime Minister takes over on September 6.

Rachel Johnson has argued the Government needs to take action now to tackle the cost-of-living crisis, rather than waiting until a new Prime Minister takes over on September 6.

It follows calls from former Prime Minister Gordon Brown for Boris Johnson to get together with Liz Truss and Rishi Sunak, the two Tory leadership contenders, to agree an emergency budget.

Speaking on her LBC show Rachel said: "The bills are going to roll in. The [energy price] cap at the moment is £1,500, it's going to be £3,500 by the end of the year. This is real life emergency.

"I do feel that the cost-of-living crisis coupled with the inflation environment, coupled with the rise in interest rates, coupled with the drought means we need to do stuff now, and waiting until September 6 or until the financial timebomb explodes come October is going to be too late."

Harry Cole, political editor of The Sun, told Rachel Truss and Sunak are currently engaged "slightly in a fake war" with neither wanting to admit "the scale" of Britain's cost-of-living crisis, partly to avoid spooking the markets.

Writing in The Observer Mr Brown, PM from 2007-10, said: The reality is grim and undeniable: a financial timebomb will explode for families in October as a second round of fuel price rises in six months sends shockwaves through every household and pushes millions over the edge.

"With time running out to update the universal credit payments system before the October rise, Boris Johnson, Sunak and Truss must this week agree an emergency budget.

"If they do not, parliament should be recalled to force them to do so."

READ MORE: Gordon Brown demands emergency budget to avert ‘financial timebomb’ for millions of families