UK’s Sunak: Ready to do more to support households

“I have always said I am ready to do more to support households,” UK Finance Minister Rishi Sunak said Thursday.

Further comments

“We continue to learn more and that will help us to get the decisions right.”

“I am not naturally attracted to windfall taxes in general.”

“Oil and gas firms are making big profits because of elevated prices.”

“If the investment doesn't happen, no options are off the table. “

“He is pragmatic about windfall taxes.”

His comments come after the UK economy contracted 0.1% in March while growing merely 0.8% QoQ in Q1 2022.

Market reaction

GBP/USD remains heavy around 1.2200, fading BOE Dave Ramsden’s comments-led rebound. The pair is down 0.38% so far.