The Prime Minister is set to bat away demands from Tory backbenchers to slash cuts in a major speech with the Chancellor next month.
According to a report in The Times, Boris Johnson and Rishi Sunak are set to outline the government’s economic strategy in the speech.
However, they will delay announcing a timeline for future cuts until the autumn budget at the earliest, government sources told the newspaper.
Ministers are being urged to introduce measures urgently to alleviate the spiralling costs of household bills on Brits, ahead of another energy price cap hike this autumn.
It comes as the government has warned it would not slash taxes while inflation remains at sky-high levels.
There have even been suggestions that the speech, which was scheduled to be made within the next three weeks, could be delayed.
The newspaper quoted a source involved in the discussions around the speech as stating: “This speech will not be about tax cuts. They’re a matter for fiscal events.”
“It’s about setting out a medium to long-term plan for dealing with the cost-of-living crisis,” the source added.