half of the country’s children live in families where essential costs are sacrificed

According to a survey published Monday, nearly half of children in the UK live in families who have to make sacrifices in their essential expenses, including food and clothing.

“By April (next) a third of households – 23.4 million people – will be under budget, averaging £8,600 (more than £10,200) to cover living expenses” each year, according to this study from the New Economics Foundation (NEF) think tank.

According to this study, “Nearly half (48%) of all children” in the country live in households affected by these budgetary problems. And this figure rises to 96% of children in jobless families.

The country has seen inflation rise for several months, mainly as a result of rising energy prices, which have worsened since the start of the war in Ukraine.
In April, the British will also see the energy price cap set by the government rise, as well as the entry into force of tax increases.
This situation “will force families to make impossible choices between essential living costs, such as putting food on the table or replacing clothes and shoes,” NEF said in a statement.

Inflation peaked at 7.25% in April

The think tank is calling on the government to intervene, in particular by raising social minimums and establishing an “income floor” below which “no one can fall, whether at work or not,” the press release said.

According to the latest figures, the Bank of England predicts that inflation will peak at 7.25% in April. But many economists say the peak will actually be higher, pushing the annual household budget down by thousands of pounds and slowing the economy’s recovery.

Another study, published Monday by the Resolution Foundation think tank, further assures that a protracted conflict in Ukraine could lead to a second inflation spike this fall, affecting the most modest of families in particular.

Finance Minister Rishi Sunak is expected to take his turn on March 23 during his “spring speech,” a sort of mini-budget presentation to Parliament, when £9 billion in aid was announced in February in the face of the rising cost of living. , are likely to prove very inadequate.

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