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The UK government intensified its efforts to respond to the cost-of-living crisis in May 2022, with a £5 billion windfall tax on energy companies to help fund a £15 billion 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 ...
[3] [4] In February 2023, 3 out of 4 consumers globally were worried about the rising cost of everyday expenses. [5] 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’. [6]
A sharp rise in the cost of living can trigger a cost of living crisis, [1] where purchasing power is lost and, for some people, their previous lifestyle is no longer affordable. The link between income and health is well-established. [2] Cost of living pressures may lead to household energy insecurity or fuel poverty as well as housing stress. [2]
The exact date depends on the day of the month you were born, as follows: Born on the 1st through the 10th of a month: Jan. 8, 2025 Born on the 11th through the 20th of a month: Jan. 15, 2025
The next few months may provide a clearer picture of how people will be able to cope wit the cost of living crisis.
cost-of-living crisis; A foodbank donation point in Sainsbury's, Slough, in June 2022. Background; Austerity (2010–19, 2021–24) COVID-19 pandemic (economic impact)
Between 1998 and 2012 the number of children living in "relative poverty" in the UK had fallen by approximately 800,000 to a total of around 3.5 million. Following the introduction of the Welfare Reform Act 2012 the number of children in "relative poverty" increased, with the total by 2019 around 600,000 higher than it had been in 2012.
Lifetime cap on social care costs in England delayed from October 2023 until October 2025 [18] A 7% cap on social housing rent increases in England from April 2023 reduced from 11% [18] Electric cars, vans and motorcycles to pay road taxes from April 2025 [18]