Spring Statement

Responding to the Chancellor’s Spring Statement, Dr Silvia Galandini, Oxfam Domestic Poverty Lead said:

“With the cost of living soaring, today’s announcements will do little to help millions of low-income families who were looking to the Chancellor for urgent support. By only increasing benefits to 3.1 per cent – half the rate of inflation – he has effectively cut benefits twice now in six months*, risking an additional 400,000 people being pulled into poverty.

“While the measures announced today are welcome, they don’t do enough to support the most vulnerable people in our country. Today’s headline measures of cutting income tax and increasing the National Insurance threshold will be of no help to people out of work or the lowest paid. And with inflation set to rise further, life for the poorest families will only get harder – including for unpaid carers, many of whom are women.

“The UK’s social security safety net is not fit for purpose in the face of runaway inflation. If we are to level up and build an economy that works for everyone, the Government must strengthen investment in the system, so it does the job it is intended to do and protects the most vulnerable.”

For more information, please contact Lisa Rutherford on 07917 791 836 / lrutherford@oxfam.org.uk