Millions face winter finance squeeze, says charity

  • 📰 BBCNews
  • ⏱ Reading Time:
  • 46 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

Low-income families face a £710 rise in costs, the Joseph Rowntree Foundation estimates.

Business Secretary Kwasi Kwarteng told the BBC on Tuesday the UC cut could make it "a very difficult winter" for low income families, and said he was speaking to Chancellor Rishi Sunak and Work and Pensions Secretary Therese Coffey "a great deal" on the subject.

Peter Matejic, deputy director of evidence and impact at the Joseph Rowntree Foundation, said: "Millions of low-income families are incredibly anxious about how on earth they are supposed to make ends meet from next month. "Ministers rightly recognise this is shaping up to be a very difficult winter, yet there is little sign of them taking the decisive steps that are necessary to avoid real hardship for low-income families."Customers are buffered from steep wholesale gas price rises by the energy price cap, which is the maximum price they can be charged.

But from 1 October, customers on standard tariffs could see an increase of £139, from £1,138 to £1,277 a year.About four million UK households use pre-payment meters. These customers are more likely to be vulnerable and living in fuel poverty, and are more likely to self-disconnect if they are in debt,

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Please help me

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

UK cost of living squeeze looms as Bank of England meets – business liveRolling coverage of the latest economic and financial news Follow me guys Follow_back confirm🙏🙏
Source: The Guardian - 🏆 84. / 53 Read more »