One in four households regularly run out of money for essentials as the cost of living crisis bites.
A survey commissioned by the Together Through This Crisis initiative, has found that nearly 40% of people end the month with no money left and 24% run out of money to pay for essentials on a regular basis. Double digit inflation and soaring energy prices are leaving people struggling to heat their homes and put food on the table.
Two thirds of respondents believed the government is not doing enough to help.
Responding, Rachel Reeves, the Shadow Chancellor said:
“At the Budget and ahead of the next election, the question people will be asking themselves is this: are my family or I better off? The answer will be no. That nearly a quarter of households are running out of money for essentials is the reality of 13 years of Tory economic mismanagement.
“Labour would be easing the cost-of-living crisis now by bringing in a proper, one-off windfall tax on oil and gas giants to freeze bills. And, crucially, we will get our economy growing to raise living standards – with our green prosperity plan, our active partnership with business and our mission to boost skills.”