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Spring Statement unlikely to support those who need it most during the cost of living crisis

Ben Harrison, Director of the Work Foundation, responded to the Chancellor of the Exchequer’s Spring Statement 

“The Spring Statement is unlikely to support those who need it most during the cost of living crisis.

“While a raising of the NICs threshold is welcome, overall the measures announced yesterday will not provide economic security to the millions struggling to make ends meet in 2022. And the promise of tax cuts to come in 2024 will do little to reassure low income workers who are today already having to make compromises on day to day essentials including food and heating.

“The priority for the Spring Statement should have been ensuring Universal Credit would rise in line with inflation, to protect those most vulnerable to rising food, clothing and energy prices. In the absence of this, many more working families are likely to face hardship over the months to come.”

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Original article link: https://www.lancaster.ac.uk/work-foundation/news/spring-statement-unlikely-to-support-those-who-need-it-most-during-the-cost-of-living-crisis

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