In response to Chancellor Rishi Sunak's Spring Statement, Kirsty Stanners, Head of Policy and Technical at CIPFA, said: "The measures announced to offset the rising cost of living are welcome but not well targeted. The Chancellor should focus his efforts on providing help to those on the lowest incomes if he is serious about levelling up.
"The doubling of the Household Support Fund to £1bn, and its extension to next year, is good news for many families. However, this help will pale in comparison to the expected £10bn erosion of benefits due to soaring inflation over the coming year."
This spring statement is one designed to help us weather the current economic storm and provides some quick relief. The Budget in the Autumn needs to provide long-term, sustainable and joined-up solutions for the economy, the climate and the poorest in society."
Notes to editor
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CIPFA, the Chartered Institute of Public Finance and Accountancy, is the professional body for people in public finance. CIPFA shows the way in public finance globally, standing up for sound public financial management and good governance around the world as the leading commentator on managing and accounting for public money.