Rishi Sunak will NOT cut £12billion tax ‘bomb’ in mini-Budget as hard-pressed families face cost of living crisis

RISHI Sunak will not cut taxes in his mini-Budget this month — despite calls by Gordon Brown to axe the National Insurance rise.

The former PM slammed the Chancellor for his £12billion tax “bomb” as families face a cost of living crisis.

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And he warned the Tories will “pay a price” for hitting the hard-pressed in the pocket.

Mr Brown — Labour Chancellor from 1997 to 2007 — said: “You can’t put up fuel prices, you can’t allow food prices to go up, you can’t raise taxes and cut benefits — you can’t do all these things at the same time.”

Despite the warning, Levelling Up Secretary Michael Gove insisted the Treasury will plough on.

Asked if taxes will be cut in next week’s Spring Statement, Mr Gove replied: “No.”

He told the BBC: “Behind your question, maybe there is a suggestion we should do away with the National Insurance increase.

“We’re not doing that. We need that National Insurance Contribution increase in order to make sure that we can fund the NHS and social care to deal with the Covid backlog.”

Mr Sunak is under huge pressure to cough up more cash to help families.

Petrol has soared to a record-breaking £1.60 a litre as the invasion of Ukraine and sanctions on Russia sends prices rocketing.

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MPs have begged him to follow Ireland’s lead and cut fuel duty.

But Mr Gove said if any extra money is found, it will go on “targeted” support rather than a tax cut for all.

It comes as Boris Johnson is expected to visit Saudi Arabia this week to urge the kingdom to produce more oil.