Martin Lewis, founder of website MoneySavingExpert.com, regularly shares tips and advice on saving cash and dealing with the rising cost of living
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Financial guru Martin Lewis has warned civil unrest is “not far away” as people will “rage” over the rise in the cost of living.
The 49-year-old financial journalist said the Government must do more to help families across the UK who are struggling to make ends meet as food and fuel prices rise and taxes rise.
The channel, which is often seen on ITV’s This Morning and Good Morning Britain, added: “We have to feed people. We have to keep them warm. Now, if we get this wrong, we’re getting to the point where we’re starting to risk civil unrest.
“When breadwinners cannot provide, anger and civil unrest brews – and I don’t think we’re very far from that.
“I would like to see more. But this is a conservative government.”
Speaking to The Telegraph, Mr Lewis described how he has “the most fear for people” in the country.
Energy bills are likely to weigh heavily on our pockets next year and the Bank of England has hiked interest rates to 0.75%, sending many Brits into despair.
Annual food bills will rise by around £180 and council tax bills will rise by an average of £67 across the country.
At the same time, social security costs also increase by 1.25 percentage points. A 1.25 percentage point increase may seem negligible, but people’s contributions are actually increasing by more than 10%.
And on Friday Boris Johnson conceded that the cost of living crisis “is only going to get worse”.
This is despite mounting pressure on the PM and his cabinet to do more to help the people.
Pointing to a portrait of Margaret Thatcher during an interview with GB News, Mr Johnson announced: “In difficult times Mrs Thatcher has had government spending which has been very, very high as a percentage of GDP because the country was in economic difficulties.
“So something like Covid, I think she would have treated exactly the same way.”
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Mr Lewis, who grew up in Withington, Manchester, said: “This is one of the richest countries in the world. It’s pretty desperate, isn’t it?”
He also criticized Chancellor Rishi Sunak’s decision to remove 5p from the fuel levy.
The fuel tax cut means the 6pm rate will be reduced to 52.92p for petrol and diesel by March next year. The current price is 57.95 pence per liter.
Fuel tax is included in the price drivers pay at the pumps, with VAT at 20% added to the total price.
https://www.mirror.co.uk/money/martin-lewis-warns-civil-unrest-26679174 Martin Lewis warns civil unrest is 'not far away' due to rising cost of living