Posted November 17, 2022
In response to today’s Autumn Statement, the Money Advice Trust has welcomed the Chancellor’s commitment to increase benefits with inflation and provide additional support for vulnerable households - but warns that serious challenges remain for millions of households.
“This Autumn Statement will provide relief for some of the households who are among the hardest hit by the cost of living and energy crisis – but serious challenges remain for millions across the country.
“The Chancellor is right to have listened to widespread calls to increase benefits with inflation – and additional targeted payments for the most vulnerable are also welcome. But rising daily costs, higher rents and mortgage payments will now be joined by significant hikes in Council Tax and energy bills in April – which will take an enormous toll on the nation’s personal finances.
“The government needs to do more to protect households at the sharp end of this crisis – including making sure that no one is pushed into hardship by unaffordable debt repayments, suspending the forced installation of energy pre-payment meters and increasing funding for Council Tax Support schemes for those unable to pay.”