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Spring Statement 2022: CFG reacts

Caron Bradshaw responds to today's [23 March 2022] statement from Rishi Sunak MP, Chancellor of the Exchequer.

 

Commenting on the Chancellor's Spring Statement, Caron Bradshaw OBE, CEO of CFG, states:

“The country faces a catastrophic socioeconomic situation. The triple whammy of a cost-of-living crisis, rising inflation and a drop in real income will be devastating. Sadly, the Chancellor’s Spring Statement has failed to alleviate the very real concerns we all have, as organisations working for the benefit of others and as individuals.

The Chancellor’s policies for tackling the crisis are welcome in as far as they go but he failed to seize the opportunity to go further and avoid deepening inequality. Positive steps include an extra £500m to local authorities through the Household Support Fund and an increase to the National Insurance threshold to £12,570.

But at the very time the Government is rightly working to level up, those on the lowest incomes face a significant cut to their living standards and the rise in inflation is set to outstrip increases in universal credit which was not raised. Many are likely be plunged into poverty in 2022.

As ever, charities and social change organisations will support their communities, but they too face the daunting prospect of another 12 months of juggling increasing demands on services with an increase in operating costs.

If the Chancellor is serious about "capital, people and ideas" then it’s time for a rethink. All sectors must genuinely be included in discussions so that real, long-lasting solutions can be found.”

 

Look out for Richard Sagar's full analysis on the Chancellor's Spring Statement and what it means for charities.

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