U-turn on energy profits flags up Sunak’s lack of long-term plan

Analysis: Many Tory MPs say they don't get what the chancellor stands for and this policy reversal won't enlighten them

• What are the cost of living payments - and how much can you get?

He's out-Laboured Labour" was the verdict of one upbeat Tory aide after Rishi Sunak announced 15bn worth of handouts to UK households in what was, to all intents and purposes, an emergency budget.

The scale of the package was larger than many in Westminster had expected. But when Sunak decides to do a U-turn, he tends to go big.