An estimated 40,179 people across Milton Keynes are already behind on their household bills this year - which is one in five adults across the city.
The analysis, which builds on research by national debt charity Money Advice Trust, also reveals that 22,322 local people have already gone without food as a result of the cost-of-living crisis.
These shocking figures have been shared by the Progressive Alliance following the Government’s mini budget announcement last week - which has seen the UK’s borrowing costs surge to the highest level in more than a decade.
Councillor Rob Middleton, Labour Progressive Alliance Cabinet Member for Resources, said:
“After 12 years of Conservative rule, our country is in crisis. Wages are falling, the economy is on the brink of recession and our NHS is on its knees.
“Over 40,000 people are falling behind on their bills in our city, and almost everyone is finding this tough at the moment. It is staggering that the Conservatives’ plan to deal with the cost of living appears to be lifting the cap on bankers’ bonuses and resisting a windfall tax on the bumper profits of oil and gas companies – meaning higher tax and borrowing for the rest of us.”
Councillor Jane Carr, Lib Dem Progressive Alliance Cabinet Member for the cost-of-living crisis, added:
“This winter, thousands of local families will struggle to heat their homes and put food on the table, all while big-shot city bankers will be popping the champagne corks. It is clear where the Conservatives’ priorities lie, and they aren’t with the people of Milton Keynes.”
This winter, the Progressive Alliance will be providing practical support for people struggling during the cost-of-living crisis. This includes a £500,000 package consisting of a telephone helpline, online voucher portal, home energy performance reviews, and energy crisis community drop-in sessions.