BORIS Johnson is weighing up slashing VAT or bringing forward the income tax cut by a year to ease the cost of living misery.
He could also make the £200 energy loan a grant to help struggling Brits.
1
The embattled PM, seen with a mug of tea as he met business leaders in Downing Street yesterday, is in crunch discussions to come up with a big, bold plan to help the nation through the economic storm.
Chancellor Rishi Sunak hinted another bailout could be imminent.
On a visit to Ipswich, he said: “We can do things to support people and we are going to do what we can to ease the burden.”
But he added: “The forces we are grappling with are global in nature and we are not the only country to be facing higher energy prices or higher inflation in general.”
Angry Tories have been to see the PM to “berate him” over the local elections bloodbath.
They have warned the only chance to win back voters is to cut taxes, which are at their highest since 1948.
One option is to bring forward the 1p off income tax by a year to 2023.
The MPs are also urging him to slash VAT, which is typically 20 per cent.
Most read in The Sun
And the £200 loan later this year to help with energy bills could be turned into a grant.
One Tory told The Sun the Cabinet risk being seen as out of touch and took a swipe at their silver-spooned upbringings.
The MP said: “For most of the Cabinet, it is a choice between heating or Eton.”
The PM’s spokesman said “all options are on the table” over the cost of living crisis.
A special Cabinet committee was today due to bat around ideas.
Ex-Bank of England chief economist Andy Haldane warned the crisis would last until 2024.
