Ed Miliband tears into Rishi Sunak: 'Crypto has crashed and so has the chancellor'

Ed Miliband has ripped into chancellor Rishi Sunak over the government's failure to introduce a windfall tax to cope with the cost of living crisis.

Speaking in the commons, the former Labour leader said Sunak's position was "wrong, unfair, unjust and out of touch" and said he is quick to blame others for societal problems.

He said: "The government’s position on the windfall tax is part of a wider problem with this chancellor and this government. Just look at the political choices he is making: he leaves non-doms shielding their millions while millions of families and pensioners face a cut in their incomes; he whacks up taxes on tenants and lets landlords off the hook; and he makes young people at work pay more, but those getting money from capital gains pay not a penny extra. Wrong, unfair, unjust, out of touch—that is who he is.

"Of course, being this Government, they always try to blame someone else, as we heard earlier. It is hard to keep track, but this is the roll call of people who the Conservative party have tried to frame in just the past few days: the Bank of England; civil servants working from home; and, shamefully, the British people for being unable to cook properly. That, apparently, is the cause of food banks.

"Yesterday, there was also the ludicrous suggestion from a minister that people were not working enough hours. The chancellor, of all people, is also at it. Who does he blame for the massive cut to benefits? He blames the IT system—the dude from Silicon Valley. Who is he trying to kid? If he had got his act together early enough, of course he could have raised benefits properly."

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It comes after Tory MPs voted against a Labour amendment to impose a windfall tax on oil and gas giants while inflation has reached 9 per cent.

He added: "The story of the past few months is this: crypto has crashed, and so has the Chancellor—and how similar they are. The Chancellor and cryptocurrency came out of nowhere. The value surged, and it looked like the future, but it has all turned out to be one giant Ponzi scheme.

"The Chancellor has just been found out. He has been rumbled. Let us be honest, his colleagues all know it. He is out of touch with what is happening in the country. He is out of ideas when it comes to doing the right thing. He is out of his depth when it comes to the challenges that this country faces."

People loved his savage intervention:

Anyone miss chaos with Ed Miliband?

The cost of living crisis has touched every corner of the UK, pushing families to the brink with rising food and fuel prices.

The Independent has asked experts to explain small ways you can stretch your money, including managing debt and obtaining items for free. https://www.independent.co.uk/life-style/cost-of-living-tips-advice-b2081583.html

If you need to access a food bank, find your local council's website using gov.uk.https://www.gov.uk/find-local-council and then use the local authority's site to locate your nearest centre.

The Trussell Trust, which runs many foodbanks, has a similar tool. https://www.trusselltrust.org/get-help/find-a-foodbank/

Citizens Advice provides free help to people in need. The organisation can help you find grants or benefits, or advise on rent, debt and budgeting. https://www.citizensadvice.org.uk/.

If you are experiencing feelings of distress and isolation, or are struggling to cope, The Samaritans offers support; you can speak to someone for free over the phone, in confidence, on 116 123 (UK and ROI), email jo@samaritans.org, or visit the Samaritans website to find details of your nearest branch.

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