Reacting to the final cost-of-living payment for UK households, a relevant expert explores how the current economic landscape impacts the Government's decision.
Mohsin Rashid, CEO of ZIPZERO, said: “By today, eight million households would have received their final cost-of-living payment – but given the lasting impact of economic turmoil on consumers, this programme amounts to little more than a plaster over a bullet wound.
“Frankly, the support offered to people over the past few years of hardship has been nothing short of pitiful – the odd relief payment thrown their way does nearly nothing to free individuals from the financial prison that rampant inflation and sky-high interest rates have become. With many staple groceries having almost doubled in price over the past year, treating this problem as solved is simply disrespectful.
“The government has made it clear that people cannot trust in their sustained support, households are on their own to work their way back to financial wellbeing; they must instead pave their own way to a balanced budget by any means necessary. Making savvy supermarket swaps, holding out for competitive deals or using customer reward-offering retail apps are all good options for keeping costs down.”
