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The UK government intensified its efforts to respond to the cost-of-living crisis in May 2022, with a £5bn windfall tax on energy companies to help fund a £15bn support package for the public. The package included every household getting a £400 discount on energy bills, which would be in addition to a £150 council tax refund the government ...
Chancellor Rishi Sunak has announced a £15 billion package of measures to help households cope with the cost-of-living crisis.
In February 2023, 3 out of 4 consumers globally were worried about the rising cost of everyday expenses. The Big Issue defines a cost of living crisis as ‘a situation in which the cost of everyday essentials like groceries and bills are rising faster than average household incomes’.
The affordability of housing in the UK varies widely on a regional basis – house prices and rents will differ as a result of market factors such as the state of the local economy, transport links, and the supply of housing.
Cost of living is the cost of maintaining a certain standard of living. Changes in the cost of living over time can be operationalized in a cost-of-living index. Cost of living calculations can be used to compare the cost of maintaining a certain standard of living in different geographic areas.
The Consumer Prices Index, including owner-occupiers' housing costs (CPIH), became the lead inflation index in UK official inflation statistics on 21 March 2017. Implementation Shortened version of ONS infographic. The CPI calculates the average price increase as a percentage for a basket of 700 different goods and services.
The United Kingdom government austerity programme is a fiscal policy that was adopted for a period in the early 21st century following the Great Recession.Coalition and Conservative governments in office from 2010 to 2019 used the term, and it was applied by many observers to Conservative policies during the 2021–present cost of living crisis, though only the Truss ministry formally adopted ...
Data based on incomes published in 2016 by the Department for Work and Pensions (DWP) show that, after housing costs have been taken into consideration, the number of people living in the UK in relative poverty to be 13.44m (21% of the population).
Personal Independence Payment (abbreviated to PIP and usually pronounced as one word) is a welfare benefit in the United Kingdom that is intended to help working age adults with the extra costs of living with a health condition or a disability. It is available in England, Wales and Northern Ireland but not in Scotland where Adult Disabled ...
The Living Costs and Food Survey (LCF) is a survey carried out in the United Kingdom by the Office for National Statistics (ONS). It is carried out on a calendar year basis and collects information on expenditure of goods and services for private households.