Cost-of-living crisis hits home

More than 1.5 million subscriptions to streaming sites such as Netflix were cancelled in the first three months of the year, research has revealed.

Half a million of those were scrapped in order to help people save money, market research firm Kantar said.

It found the cost-of-living crisis meant households were having to ditch luxuries and budget for higher food prices and energy bills instead. ■■A new law is being introduced to protect savings clubs for shoppers.

Many families pay into schemes to help spread the cost of Christmas, weddings and home improvements.

The Government plans to bring in a new law so if the company goes bust, shoppers’ money will still be protected.

It is hoped the legislation will prevent another scandal like the 2006 collapse of Christmas savings club, Farepak.