Experts’ reactions to Sunak’s Spring Statement – preparing for the situation to “worsen considerably”
Today’s Spring Statement from Chancellor Sunak has certainly caused lots of speculation ahead of his speech in the House of Commons this lunchtime in which he announced his thinking that things will ‘worsen considerably’. So what’s he actually doing about it?
Commenting on today’s announcements, experts from across the financial services spectrum have been sharing their views with us. Here are a selection of those comments which we’ll be updating throughout the day:
Ben Alcock, Chartered Financial Planner at Continuum, points out the lack of measures to help pensioners commenting: “The £3,000 increase to the National Insurance threshold will be a welcome relief for many lower-earning households and help them mitigate rising living costs.
“The 5p cut to fuel duty and the increase to the household support fund will also help many households struggling with the increased cost of living but will do little for the many pensioners that may be particularly vulnerable to inflation.
“With the suspension of the pensions triple lock, many industry commentators were hoping for additional measures such as a temporary increase to the State Pension rate to help pensioners with the unprecedented rise in their living costs.”