The government should immediately support those hardest hit by the cost-of-living crisis, according to the Confederation of British Industry (CBI).
The CBI also called for help for struggling firms with cashflow, as well as further investment to promote growth.
The business group says an emergency Budget is not necessary to announce support for the most vulnerable households, nor to outline steps the government can take to get firms investing now.
CBI Director General, Tony Danker, said: ‘There’s a lot of debate right now about whether the economy needs a boost, an emergency budget, or action on the cost-of-living. At the CBI we think it’s vital that the government moves on two fronts right away.
‘The first is to help people facing real hardship now; it’s the moral underpinning of our economy and society. Recent surveys suggest more than one in ten households have skipped or had smaller meals in the past month because of a lack of affordability, while around half a million more households are expected to face choices between heating and eating. Putting pounds in the pockets of people struggling the most should not be delayed.
‘Secondly, start stimulating business investment now – we will need to ensure that there is economic growth in the pipeline to avoid any downturn in our economy that could worsen or prolong the cost-of-living crisis.’
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