It’s a relief that benefits and the benefit cap will rise with inflation. But this is only the fourth time benefits have risen by inflation in the last ten years and as a result of austerity - that today the chancellor praised - there are almost 4 million kids living in poverty in the UK. Today’s package will not stop the ice from cracking under struggling families.
"The cost of living crisis has pushed many families to the brink as a difficult winter looms. With around 2 million children living in households affected by deductions, the Work and Pensions Select Committee is right to say that now is time to pause these repayments.
Forecasters have increased their estimate for the January 2023 energy price cap to £5,386 for the typical bill. If as expected, this estimate is accurate, families are now facing a gaping £1,200 shortfall for energy costs alone in the months up to April 2023.