April will be cruellest month for half of the children in the county
PEOPLE
will force people to make impossible choices.” Sam Tims, an economist at the NEF, said: “There is little time left for the Chancellor to take action to avert the worst real-terms incomes squeeze in 50 years. The cost of living is increasing faster than at any point in recent history. “While all families are set to feel a squeeze come April, the lowestincome households will be hit proportionately harder. But the cost of living is only a crisis when people cannot afford it and Government support must be able to flexibly respond to this.”
Meanwhile, the Resolution Foundation has published new research suggesting the Russian invasion of Ukraine could see a second inflation spike this autumn, reaching more than 10 per cent. The think tank warned the conflict is likely to “weaken GDP growth and increase the probability of a recession”.
Leicester South MP Jon Ashworth, who is also Labour’s shadow work and pensions secretary, said: “It’s shameful so many children are now growing up in poverty and insecurity under the Tories, in households unable to afford basic essentials.
“Twelve years of Tory economic mismanagement have given us surging inflation, rocketing heating bills, punishing tax rises and two huge cuts to universal credit within six months.”
In response to the findings, a Treasury spokesman said: “Russia’s devastating invasion of Ukraine will have a huge impact on lives and livelihoods around the world and the effects will be felt across this country.
“It is right that we do all we can to show solidarity with the people of Ukraine and work with our allies and partners to impose the most punishing sanctions to inflict maximum and lasting pain on Russia.
“We are already providing support worth over £20 billion this financial year and next, including targeted support for energy bills, cutting the universal credit taper rate to help those on low incomes keep more of what they earn, and freezes to alcohol and fuel duties to keep costs down.”
The worst-hit will be children of unemployed parents, with about 96 per cent denied an acceptable living standard