Martin Lewis hits back at claims he’s ‘sold out’ over Rishi Sunak cost of living plan

Money Saving Expert says he just tries to ‘call it straight’

Martin Lewis has said he just tries to "call it straight" as he hit back at critics who accused him of being a "sell out" after praising Rishi Sunak's package of measures to help with the cost of living crisis.

The Money Saving Expert has in recent months been highly critical of the chancellor and the government more broadly for not doing enough to help people with rising fuel, food and energy bills.

But Mr Lewis said on Thursday that he welcomed the series of measures announced by the chancellor in parliament earlier in the day, which included a £400 cut to energy bills for every household in the UK.

The package has been widely described as generous and the Resolution Foundation, which works to help those on low and middle incomes, said its research showed that help announced by the Treasury since February covers around four-fifths of the rise in gas and electricity bills.

Responding to his online critics, Mr Lewis said: "Thanks so much to the few attacking me as a 'sell out' after summarising that the chancellor's package was more generous than expected. I've spent months shrieking, pleading, urging for more help, calling out the dangers. I've nowt to sell out, I just try and call it straight."

Martin Lewis welcome chancellor support package (PA Archive)

Mr Sunak's £15bn package of financial assistance will be partly funded by a temporary windfall tax of 25 per cent on the profits of oil and gas companies who have been making huge profits during the Covid pandemic.

He said that almost all of the 8 million of the worst-off households in the UK will benefit to the tune of £1,200, made up of support measures including a £650 cost of living payment for the poorest, a one-off £300 payment to 8 million pensioner households and £150 each to 6 million disabled people.

The chancellor added that he will double the assistance with energy bills on offer to all households this autumn from £200 to £400 and convert the payment from a loan to a grant.

The Labour Party, which called for a windfall tax five months ago, said it welcomed the move but questioned why it took so long for the government to announce the policy.

Mr Sunak spoke to broadcasters on Friday morning and defended the windfall tax amid criticism from some in his own party suggesting it was the wrong decision because it would deter future investment in the UK.

Sunak sets out cost of living help in parliament (PA Media)

He denied that his package of measures would exacerbate rising inflation and refused to rule out another round of help next year. He also insisted that he is a "fiscal conservative".

He said: "People can judge me by how I've acted over the last couple of years.

"I've always been prepared to respond to the situation on the ground, what's happening to the economy, what families are experiencing and making sure we've got policies in place to support them through that.

"In terms of 'is it one-off?', what's happening next year, I'd go back to what I said earlier. I do want people to be reassured and confident that we will get through this. We will be able to combat and reduce inflation, we have the tools at our disposal and after time it will come down."

He added: "First and foremost I'm a fiscal conservative, I believe it's incredibly important that I manage the country's finances responsibly. That means after suffering the shock we did to get our borrowing and debt levels back on a sustainable trajectory."