Have Your Say: Do the Tories care as inflation hits 9%? Will you punish them at election?

But he is yet to deliver and, in a statement today, blamed the perilous situation on global events.

Mr Sunak said: “We cannot protect people completely from these global challenges but are providing significant support where we can, and stand ready to take further action.”

Public trust in the Conservative party’s ability to handle the economy has collapsed, now down from 29 percent to 28 percent according to YouGov, while Labour has risen to 23 percent from 21 percent.