© Provided by Agencia EFE
London, Mar 24 (EFE) .- Around 1.3 million people, including 500,000 children, will fall into absolute poverty in the United Kingdom this fiscal year, due to the increase in the cost of living and the lack of aid governments, the British think tank Resolution Foundation said on Thursday.
The executive director, Torsten Bell, warned that low-income households have no room for maneuver and “will have to cut back on essentials”, such as heating or food, after the Government has avoided increasing support specifically for this sector of the population.
Bell considered the financial plan announced Wednesday in Parliament by Economy Minister Rishi Sunak insufficient, criticizing that it does not cut taxes sufficiently at a time of rampant inflation.
The Office for Budget Responsibility (OBR) forecast yesterday that the British economy will grow by 3.8% in 2022, compared to the 6% estimated last October, and that inflation will reach 8.7%, its maximum in 40 years, in the last three months of 2022.
Sunak cut the tax on fuel by 5 pence, in the face of rising oil prices on the wholesale market, and raised the threshold at which workers start contributing to the social Security.
However, numerous politicians from all parties have criticized the fact that the minister has decided to raise that contribution to social security by 1.25% for companies and workers this financial year (from April to April), when there will be a large reduction in purchasing power .
(c) EFE Agency