2022 was one of the hardest years in recent memory, with soaring costs putting pressure on millions of houeholds across the UK. A doubling of energy costs since last winter, record food inflation and other costs have left many worried about affording their bills in the months ahead.
The cost of living crisis meant governments have had to roll out several financial support packages including a £650 payment to those on benefits and a £400 discount off energy bills for all households. Experts have said 2023 is set to be another difficult year, as although inflation is set to slow by the middle of the year, the Bank of England has forecast a two-year recession - the longest since records began.
There is a lot happening in 2023, from changes to benefit and pension rates, more cost of living payments and energy cost changes, and it can be hard to keep track of it all. So we've rounded up all the upcoming changes that could make a difference to your finances this year, and when they are going to happen according to ChronicleLive. To get all the latest money-saving news straight to your inbox twice a week sign up here.
