Families on low incomes are enduring a “year of financial fear” and making grim choices such as falling behind on bills, going without essentials or taking on expensive debt, a report has found. The Joseph Rowntree Foundation (JRF) said the cost-of-living crisis and a decade of social security cuts and underfunding are taking a heavy toll. It used a survey of about 4,000 people on low household incomes in May and June (the bottom 40%, which equates to an income of under £25,000 for a couple with no children), for the report. Rather than making the trade-off between heating or eating, one in five (21%) low income households were unable to do either – going without enough food as well as being unable to keep their homes warm, researchers found. Six in 10 (60%) had gone without essentials since the start of 2022, or, had cut down on or skipped meals, or gone hungry in the previous 30 days. Recommended Over £130m handed to housing providers named and … [Read more...] about Families on low incomes suffering ‘year of financial fear’ – charity
Energy bill help for low income
Now businesses face soaring energy bills
Douglas Fraser Published 27 April Share close Share page Copy link About sharing Businesses do not have the householders' protection of an energy price cap, though many have been helped by fixing their prices last autumn, before the surge in prices began. That lasts, for many, until autumn, and now is the time they are finding out how much more they will have to pay. Some, in Glasgow, are rebelling. Some firms can pass on extra costs to customers, including energy suppliers themselves. But for others, they face the daunting task of absorbing costs or losing custom. Barista and businessman Robbie Gray had enough of the soaring electricity bills for the Canary Girl Cafe. "It's like staring into the abyss and not knowing what's coming," he says. "I'm not the kind of person who's afraid of their bills, but the last few months, I've dreaded that little brown envelope coming through the … [Read more...] about Now businesses face soaring energy bills
Cost of living: ‘Biggest tax cut in a decade’ takes effect to help 30 million people
The amount you can earn before having to pay national insurance (NI) has been raised from today, a move Boris Johnson has described as the "biggest tax cut in a decade" to help with the rising cost of living. The government says 30 million people will benefit to the tune of £6bn collectively from the shift in the threshold, which has risen from £9,880 to £12,570. It would save a typical worker £330 over 12 months and take 2.2 million people out of paying NI contributions altogether. The PM told his cabinet on Tuesday - just hours before the shock resignations of Sajid Javid and chancellor Rishi Sunak - that the measure was part of a £37bn package of support the government had put in place to help families face down the rising tide of everyday expenses from fuel and food to household energy. Read more: How does the NI change affect you? Advertisement The rate of inflation has hit levels not seen for 40 years - and is set to surge further … [Read more...] about Cost of living: ‘Biggest tax cut in a decade’ takes effect to help 30 million people
Warning to millions of people on Universal Credit as £650 cost of living payment WON’T hit bank accounts in one go
MILLIONS of people on Universal Credit won't get the £650 cost of living payment all at once. Chancellor Rishi Sunak announced the extra cash would be dished out as part of a £15billion emergency package for low income households. More than eight million households will receive the help, which will be paid in two instalments. The first instalment is worth £326 and will land in bank accounts from 14 July - payments will be staggered from there. But the Department for Work and Pensions (DWP) say applicants may not receive money at the same time. The DWP say it's because there are millions of payments that need to go out and they can't all be processed on a single day. Read More On Universal Credit BENEFICIAL DATES Three Universal Credit changes in July and August you need to know about SAVINGS BOOST Millions on Universal Credit missing out on free cash worth £1,200 - are you? The first half of the … [Read more...] about Warning to millions of people on Universal Credit as £650 cost of living payment WON’T hit bank accounts in one go
Kremlin slashes spending by £24bn as West’s sanctions batter Russia
City banks defy Brussels to out-earn French rivals PM urged to back bid for factory at heart of Britain’s food supply FTSE 100 rises 1pc Matthew Lynn: Biden’s global tax plan is sinking rapidly — and good riddance Sign up here for our daily business briefing newsletter T he Kremlin is poised to cut future spending plans by £24bn as Western sanctions against Russia bite. Defence, technology and transport budgets are all set to be trimmed, according to Russian media. More than 1.6 trillion roubles, or £24bn, has been slashed from the Russian state budget over the next three years as Moscow braces for a two-year recession. Spending will be 557bn roubles (£8.2bn) lower in 2023 than previously approved plans, with similar cuts pencilled in for the following two years. The budget tweaks are minor compared to the size of Moscow’s overall budget but the figures are one of the first signs of the fiscal blow being dealt by the conflict in Ukraine. The 2023 … [Read more...] about Kremlin slashes spending by £24bn as West’s sanctions batter Russia
Thousands of people NOT eligible for council tax rebate to get £150 – how to apply
THOUSANDS of people who are not eligible for a council tax rebate could still get up to £150 free cash to help with the cost of living crisis. Four in five households are now receiving council tax rebates automatically - the giveaway is part of a package of measures from the Government to help struggling households across the UK. You must be in council tax bands A-D to qualify for the payment, which was announced by the government in February to help with the cost of living crisis. While households who pay their council tax by direct debit will get the money automatically, others will have to apply. The deadline for this has now been extended until roughly September 30, 2022. But the longer you leave it, the longer it will take for your money to come through. Read More On Council Tax TAX TRIM Four ways including Universal Credit which could mean you pay NO council tax pay day Exact date households MUST apply for … [Read more...] about Thousands of people NOT eligible for council tax rebate to get £150 – how to apply
Unions say rising fuel prices are ‘crushing’ social care workers ‘who can’t afford to go to work’
Rising fuel prices are 'crushing' social care workers with some finding they cannot afford to go to work, according to a trade union. Care workers are also leaving jobs in the sector to work at supermarkets due to rising fuel costs according to John Mooney from Unison Scotland. Speaking to BBC Radio Scotland, he said: 'What you have is workers who have 20 visits per day in areas where they have no option but to use their car. 'We have members approaching us and saying that they simply can't afford to go to work.' The union has previously called for increased fuel allowances for care workers following the sharp rise in fuel costs, but representatives say they were advised the issue was down to individual employers. Care workers are also ditching cars in favour of walking, Mr Mooney has warned. 'What we have is a situation where members are coming to us saying they have spoken to their employer about a schedule that covers walking only without them having to drive.' He … [Read more...] about Unions say rising fuel prices are ‘crushing’ social care workers ‘who can’t afford to go to work’