The Mini-Budget announced by the Chancellor of the Exchequer, Kwasi Kwarteng on 23 September has seen the biggest tax cut in half a century, according to the Institute for Fiscal Studies. The announcement was purportedly made outside of the traditional fiscal events calendar to address the cost-of-living crisis being faced by many across the country - particularly the poorest in our society.
The Chancellor promises to prioritise growth. What do our grantees make of this aim and the measures he has set out to achieve it?
Our grantees represent many of the groups experiencing the worst levels of hardship in London - hard-working, low-earning families; people receiving income support and benefits; single parents; women's groups; and children living in poverty. These groups are lined up to be hit hardest by the cost of living crisis, and the sentiment sector-wide is that this month's statement has done nothing to immediately alleviate, or prepare to alleviate this burden.
23 September 2022