Boris Johnson latest news: 1.3 million people will sink into poverty amid record fall in living standards

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(EPA)

Around 1.3 million people will be pushed into “absolute poverty” next year, a think tank has said, amid criticism that Rishi Sunak’s mini budget did little to help lower-income families.

In yesterday’s Spring Statement, Mr Sunak announced a 5p cut in fuel duty and an increase in the threshold at which people pay national insurance contributions.

However analysis from the Resolution Foundation, an economic think thank, said that Mr Sunak’s measures do not meet the scale of the cost-of-living squeeze. They said that 1.3 million Britons would fall below the poverty line next year, including 500,000 children – the first time Britain has seen such a rise outside of a recession.

Mr Sunak’s mini budget was roundly criticized in the morning papers, with many leading on the Office of Budget Responsibility’s warning that families face the biggest fall in living standards on record.

Richard Hughes, chairman of the OBR, said that people can expect a 2 per cent fall in their living standards in the coming 12 months. Mr Hughes also said that energy bills are “doubling” over the course of the year, rising by around 50 per cent in April and another 40 per cent in October.

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‘I can’t make every problem go away’ – Rishi Sunak

Chancellor Rishi Sunak has said he “can’t make every problem go away” following criticism that his Spring Statement didn’t go far enough in helping lower-income families.

speaking on BBCBreakfast, Mr Sunak said: “I’ve always been honest; these are global challenges that we face.

“We’re not alone in experiencing them, and I can’t, I wish I could – and it’s the hardest part about this job not being able to do everything that people would like you to do – but I can’t make every problem go away, but where we can make a difference we want to, and that’s what yesterday was about.”

(via REUTERS)

holly bancroft24 March 2022 08:08

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Euro 2028 tournament in Russia would be ‘beyond comprehension’, says Boris Johnson

It would be “beyond comprehension” for football’s ruling authorities to award Russia the right to host the Euro 2028 tournament, Boris Johnson has said.

The prime minister was speaking after it emerged that Vladimir Putin has launched a last-minute attempt to challenge the bid by the United Kingdom and Ireland, writes Political Editor Andrew Woodcock.

It had been hoped that the joint UK/Ireland bid would be selected unopposed, but Russia’s Football Union put in an application just hours before the deadline on Wednesday – despite being barred from international football because of the invasion of Ukraine.

holly bancroft24 March 2022 08:04

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Cost of living crisis: Lack of support will push 1.3 million into absolute poverty, economists warn

Around 1.3 million Brits will be pushed into absolute poverty by the cost of living squeeze, after the chancellor failed to offer more support to low income households in his Spring Statement, the Resolution Foundation, an economic think tank, has said.

This is the first time, outside of a recession, in which poverty has risen so sharply, Economics editor Anna Isaac writes.

Wages are failing to keep pace with inflation, which is set to peak above 8 per cent next month, and average 7.4 per cent this year. The soaring cost of living comes as taxes are also set to rise in April. Some half-a-million children will be among those pushed into poverty by this squeeze on households, the think tank said.

Read the full story here:

holly bancroft24 March 2022 08:03

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George Holan

George Holan is chief editor at Plainsmen Post and has articles published in many notable publications in the last decade.

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