1 in 6 households in serious financial difficulty.
1 in 6 households in serious financial difficulty.

Nearly 13,000 households in Basingstoke ‘seriously struggling’ with their finances as Conservatives ignore Cost of Living Crisis

New data shows that an estimated 12,650 local families are in serious financial difficultly, all while the Conservatives are distracted trying to fix their crumbling government.

Research conducted by Bristol University and Abrdn Financial Fairness Trust has found that rising prices have pushed more people into “serious financial difficulties” than the pandemic. These families are forced into reducing the quality of the food they eat, selling or pawning possessions or cancelling or not renewing insurance.

A total of 4.4m households – one in six across the country – are now estimated to be in such difficulties, up 1.6m over the last nine months, with single parents, renters, people with disabilities, and families with three or more children the groups facing the most difficulties. This is worse than any point during the pandemic.

The analysis, published today by Basingstoke Labour, comes as the Conservative leadership race continues to ignore the worst cost of living crisis in generations. The Labour is calling for an emergency budget.

Labour’s Alex Lee, Basingstoke CLP Communication Officer, and Winklebury & Manydown Ward Councillor, said:

“Every family in Basingstoke is feeling the pinch from the cost of living crisis, and these figures reveal that 12,650 households are seriously struggling to make ends meet.

“Families across Basingstoke need a government focussed on the cost of living crisis and providing real help. Instead we’ve got a Conservative Party mired in scandal and fighting like rats in a sack. Their leadership contest has nothing to say about the real concerns of people in Basingstoke. Instead, it’s all fantasy tax cuts for big business and invented, irrelevant controversies.

“Locally, Labour Councillors have worked with Council Officers on a one-off grant scheme to help those in most need across the Borough. Due to be voted on at the full council meeting on 14 July 2022, it presents a real opportunity for us to provide the assistance that the Tory-run government cannot provide.

“Britain needs a fresh start. Labour has a plan to tackle the cost of living crisis starting with an emergency budget. We would cut VAT on energy bills, insulate 19m homes, cut small business rates, and ensure we buy, make and sell more in Britain.”

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