UK needs £12bn more to support families amid cost of living crisis

Britain needs to find billions more in order to keep supporting families amid the cost of living crisis as the costs of household essentials from food to fuel surges, a leading research institute has warned.

by | 15 Aug, 2022

Analysis from the Institute for Fiscal Studies (IFS) estimates the government needs an additional £12bn to achieve what it had set out to do with the £24bn package announced in May.

That’s largely because in May energy prices were expected to increase by 95% in 2022 to 2023, and are now expected to rise by 141%, the IFS said.

Read more at Yahoo Finance

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