Monday, April 22News For London

Londoners hit with hikes in living costs

Since October last year, the cost of living has soared in the UK. With London having some of the country’s highest living expenses , Westminster World took to the capital’s streets to find out about how inflation is impacting its residents. 

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Keeley Reed, from The Dragon Hall Trust, who run a food bank specialising in helping families in need of food in Covent Garden, has said that “people are always taking from it”. She also added that people are taking more food post-pandemic. 

Capital in Crisis. Credit: Viola Yu, Skyler King, Ting Lei

This Wednesday, Chancellor of the Exchequer, Rishi Sunak will present the Spring Statement for this year. The pandemic took up most of the focus in previous years, with Mr Sunak announcing plans to assist the public through tough times. Martin Lewis, a financial journalist and broadcaster, described the cost of living crisis as ‘catastrophic’ on the BBC’s Sunday Morning programme. 

Credit: Annie Spratt

Londoners expressed concern about food and energy prices at a protest condemning the actions of P&O Ferries, who sacked an estimated 800 UK employees earlier in the week. This action will leave hundreds of UK workers out of work when the cost of living is going up. 

On the 23rd March, the Office for Budget Responsibility will come up with a report, after which Mr Sunak will present a statement to the House of Commons, discussing the current state of the country’s economy.

As calls are being made for the government to assist with the ongoing and developing cost of living crisis, the statement is expected to outline future plans to soften the blow of rising prices.

Some have estimated a possible ‘fuel duty cut’ due to the current ongoing war in Ukraine, which would see a decrease of 5p per litre. Pensions and benefit payments could also be increased, and a pause on the National Insurance increase.