Chancellor Rishi Sunak faces a tricky day with the Spring Statement. It might be a sunny Wednesday, but there is a growing storm of personal finance misery hitting households across the country.
Inflation has raced to 6.2 per cent in February, according to ONS data released this morning and people face higher bills, including energy costs, petrol prices and a National Insurance hike.
Millions will be waiting to see what measures he will announce to help deflect some of that inflationary pressure without getting into an even bigger government debt hole.
It’s a difficult balance, especially after two years of pandemic and a tragic war unfolding in Ukraine.
Spring Statement: The cost of living crisis is in sharp focus – with CPI measured at 6.2% in February
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