The cost of living – not Covid – could bring Boris down

Two and a half years into his premiership, Boris Johnson has enjoyed no more than a month of that time unencumbered either by Brexit negotiations or the public health emergency. Once Britain is through the worst of the Omicron wave, it would be understandable if the Prime Minister wanted to pursue some kind of political vision. The danger is that, as normality returns, his premiership will be further imperilled by the cost of living.

An economic crisis is expected to hit households in April. In that month, National Insurance contributions (NICs) will go up by 1.25 per cent, a direct violation of Johnson’s manifesto pledge to protect voters from tax rises. The price cap on energy bills will also be raised, possibly doubling some customers’ costs as they come off fixed rates. On top of that, inflation is already exceeding 5 per cent and looks set to rise further to 6 or 7 per cent — a level never before experienced by most working-age adults.