New analysis from MK Labour, based on the latest Legal and General RBI survey, has revealed that 14,274 households in Milton Keynes – more than one in ten – have nothing left to cut back in the face of future energy price hikes.
It also shows that:
53,802 households in Milton Keynes (49%) are concerned about being able to keep up with rent or mortgage payments over the next 12 months
75,762 households (69%) are being forced to make additional cutbacks on their household budgeting
The analysis comes ahead of a predicted 64% energy price cap hike in October. Nationally, Labour has committed to tackling the cost of living crisis with:
A VAT cut on energy bills
Reducing energy bills by insulating 19 million homes
Cutting small business rates
Buying, making and selling more in Britain
Publishing the analysis, Labour’s Councillor Rob Middleton, Cabinet Member for Resources at Milton Keynes Council, said:
“These figures are frightening. The cost of living crisis is spiralling out of control, and families in MK are bearing the brunt.
“People need real help now, but the Conservative Government is missing in action. Labour has a plan – we’d cut VAT on energy, insulate homes to bring down bills, slash small business rates and build an industrial strategy around buying, making, and selling more in Britain.”
“After twelve years of Conservative rule the country is in total crisis. We need action now – or better yet a change of government and an end to more than a decade of failure.”