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5 Things You Need To Know, Today, on Monday 21st March 2022
5. Millions of people face the dilemma of cutting spending on food and clothing to pay their energy bill, one supplier's boss has said.
Bill Bullen, chief executive of Utilita - which serves prepayment meter customers - said government financial support was not directed sufficiently to those who needed it most.
4. P&O Ferries' sacking of 800 staff without warning last week was "awful" and "wrong", Chancellor Rishi Sunak has said.
The government is examining the legality of the firm's actions, the chancellor confirmed.
3. The state-owned oil giant Saudi Aramco plans to sharply increase the amount it invests in energy production, after it reported a doubling of profits in 2021.
The firm aims to boost output significantly over the next five years.
2. One in five people think they will end up in debt this year and won't be able to pay it back, a survey has found.
With energy bills and council tax set to rise from April, debt charity StepChange found 42% of people think they will struggle to pay these bills.
1. Rishi Sunak is expected to cut fuel duty by at least 5p and is considering lifting tens of thousands of low earners out of paying national insurance altogether to help tackle the cost-of-living crisis.
The chancellor is planning to use his spring statement on Wednesday to announce a limited package of support for those hit hardest by soaring inflation and energy bills.