Reaction to Autumn Statement 2022
17 November 2022
Today’s Autumn Statement has attempted to plug the black hole in the cost-of-living and affordability crisis, with the sacrifices needed across the board to get the economy back on track and fill the £60 billion void on the country’s finances.
Following today’s announcement, the energy price cap, based on an average user, will increase again with energy bills potentially being £3,000 per year. This will be unachievable for many households.
We know that this will be a particularly challenging time for those people in the most vulnerable situations and for those now facing affordability choices – those who have previously not felt full the pressure of the financial impact of rising costs, but who are now going to be squeezed more than ever for the foreseeable future.
The pressure on household budgets is and will continue to be significant and we are anticipating spiralling debt that could, if not addressed, grow out of control for many. Auriga is already starting to see this effect across many of our dealings.
We welcome the news that there will be a targeted support programme to assist those on low incomes, disability benefits and pensionersand that additional payments of £900 will be paid to those on means-tested benefits, £300 to pensioner households and £150 to people on disability benefits.
Energy is one of the biggest components of the cost-of-living crisis, and our experts are already working nationally to provide support to the nation’s most vulnerable, and are poised to be able to help with any areas of tailored support, assistance, and advice that they can to help us move through this difficult period of challenge for so many.