Cost of living for UK’s poorest could be 10% higher by autumn, thinktank warns
The Guardian says The poorest households in the UK could see their cost of living jump by as much as 10% by this autumn if Russia’s invasion of Ukraine leads to a prolonged conflict, a thinktank has warned, as Rishi Sunak faces mounting pressure to tackle the cost of living crisis.
The chancellor will deliver his spring statement on 23 March. He is reluctant to commit to significant extra spending, but Treasury sources concede he has acknowledged the necessity to take some limited action.
Options could include increasing benefits in April by more than the planned 3.1%, a new cut in the taper rate for universal credit so that claimants keep more of their earnings, or an increase in the national insurance threshold.
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