Martin Lewis: ‘We need to stop blaming the cost of living crisis in Ukraine’

Martin Lewis said he is worried the government may be trying to blame the escalating price crisis on Ukraine, adding that factors such as national insurance tax increases and council tax hikes have already been done well. before the crisis broke out.

Martin Lewis

Martin Lewis has said that the cost of living crisis is not just about Ukrainetold the British we were going to see a real increase in poverty and we needed political intervention.

Speaking on BBC R4 this morning, the money-savings expert said he was worried the government might be trying to blame cost of living crisis on Ukraine.

Kwasi Kwarteng said many people are willing to die for Ukraine. He’s probably right,” Mr Lewis said.

“But I’m a bit worried because we’re seeing what could potentially be an intentional narrative shift that says the entire cost of living crisis is caused by Ukraine, and therefore all of us. sacrifices must be made and that’s not correct.”

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“What happened in Ukraine has aggravated the situation. But increases in energy, hot oil, water, council taxes, broadband and mobile, food, National Insurance all are in position ahead of Ukraine.

“And when we have a budget or a spring announcement is coming in a few weeks, we need to be careful not to allow that story to happen and be used as an excuse that we all sacrifices have to be made for Ukraine, and that’s why we have a cost of living crisis, because that’s not an accurate analysis.

Lewis also said this was a cost-of-living crisis so large that it was up to the Prime Minister to deal with it.

“This will be for Rishi Sunak to deal with,” and gave energy prices as an example of what was happening.

“A year ago, if you had the cheapest contract, you could pay around £800 for a year of energy. The current price cap is £1,277. In early April and the limited price, the cheapest there, will be £1,971. We’ve gone through a month into the six-month analysis period towards the October price cap.

If things continue as they are, the price cap for October will be more than £3,000 a year.

And the cheapest fixed deals available on the open market are now over £4000 a year.

I mean, we’re talking about a £2,000 a year increase for the typical home in terms of energy bills alone. That is an amount that cannot be paid.

“We are going to see a real increase in real poverty in this country, millions of people falling into poverty and the only way we can stop it is not by saving money. money saving and austerity – but by real political intervention.

“And we have a statement coming up this spring and I will urge the prime minister, let’s solve this problem in its infancy but don’t let people starve or freeze to death.”

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