The 2023 Spring Budget includes some welcome news that the UK Government will abolish the poverty premium for prepayment meter users, extend to the Energy Price Guarantee and increase childcare support. However, data from our latest YouGov polling shows that two in three (65%) UK adults believe that the cost of bills and essentials will put a significant burden on their finances, this year the Spring Budget did not go far enough to address the reality of increasing poverty levels.
The budget was silent on tackling dramatically escalating poverty levels and brought in rigorous sanctions that will add to poverty’s punishment. Going forward we still need:
Targeted financial energy support for low income households
Universal Credit uprated in line with inflation
Minimum income reviewed
Free debt advice funding