The UK’s cost of living support won’t protect the poorest – here’s what the government should do instead

Household bills have spiked in 2022. Cast of Thousands / Shutterstock

UK households have faced unprecedented blows to their living standards in 2022. Home energy costs have more than doubled and are threatening to triple, the price of petrol has risen by more than half since the start of last year and overall price inflation is heading for double digits.

We have seen plenty of comparisons to the 1970s recently, but two things could make today’s situation even worse. Inflation has not built gradually, but will have gone from zero to double digits in less than 18 months. This sudden acceleration has left people’s incomes far behind. Secondly, the course of this crisis has been highly unpredictable, with forecasts constantly being revised upwards. This creates the risk that any response will be out of date by the time it is implemented.