Wednesday's Budget and how it might help those struggling in Devon this winter
- Credit: POOL/AFP via Getty Images
Chancellor Rishi Sunak will announce this year's budget in the House of Commons on Wednesday.
It’s a chance to see what money will go where and what it is spent on. But with soaring gas prices, mortgage rates set to rise and inflation at its highest level for more than a decade, what is this year's Budget going to announce that can help you struggling this winter in Devon?
According to the BBC on Monday (October 25) we will see a five per cent VAT cut on energy bills to help counteract rising energy prices this winter. This will help people struggling to pay for heating or lighting homes, who may be considered 'fuel poor' in the county.
Politicians have also been lobbying the Prime Minster to reinstate the Universal Credit for the 2.3 million people claimants who were left out of pocket a few weeks ago, when the £20 emergency uplift during the pandemic was cut. These include East Devon District Council leader Paul Arnott.
A £500 million package is also set to be announced to support young families and children as part of a new ‘start4life’ initiative, an NHS-run scheme which helps parents with young children who may be struggling with antenatal and breastfeeding advice.
Cost of living – Demand for gas and electricity has caused heightened prices meaning businesses are having to run machinery for longer and fewer fuel for cars which saw the shortage we saw a couple of weeks ago in the UK.
Mr Sunak will announce this year's Budget in the House of Commons at 12.30pm. It will then be debated with MPs in the House.
As always, you can see a list of community lifelines in Devon, who are there to support you if you are struggling this winter, on our website https://www.midweekherald.co.uk/news/fuel-poverty-community-lifelines-in-mid-devon-8384718
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