Mr Sunak spoke to the media after giving a talk to employees at Speedy Services in Milton Keynes announcing upcoming tax cuts set to be launched next month.
A tax cut of £6 billion worth up to £330 a year to 30 million people in the UK as a result of the National Insurance Contributions threshold rise is being delivered.
But while the government is initiating new strategies to address soaring inflation and a cost of living crisis many communities have seen more and more of their members dependent on food banks.
Recent data revealed that there had been a 33% increase in the number of food bank parcels delivered to Aylesbury.
The Chancellor told The Bucks Herald: “When it comes to food banks this is quite a complicated issue for me as Chancellor.
"Because obviously, I’d rather they didn’t exist, and I wish they didn’t have to exist.
"But I am also full of admiration and gratitude for all the people in their communities that I see in my own constituency at home in North Yorkshire, making them available and providing support to people.
"Now, what are we doing to try and alleviate some of the challenges people are seeing?
"A couple of weeks ago we announced a very significant amount of support for families up and down the country to help with the cost of living, and food, as well as energy.
"The most vulnerable families in our society, which is around a third, all those who are on benefits for example are going to receive a very significant amount of cash support this year worth around £1,200, to help them meet some of those bills and ease some of those burdens.
"Alongside that, we also want to make sure that our children are being well looked after and that’s why we introduced something called the Holiday Activity and Food Programme and that provides not just meals, but actually enriching activities for kids who are particularly vulnerable in weeks of the holiday time and outside of term time.
"And we are expanding our Breakfast Club programme across thousands of schools across the country as we speak.”