Sylvia Simpson, CEO of Money Buddies, an organisation that helps those in need access Government funds owed to them, told Good Morning Britain about a vital online tool that makes Britons aware of Government funds to which they are entitled to but of which they may not be aware. She said the site “helps maximise your income” and could prove vital to many struggling with the soaring cost of living crisis.
Ms Simpson said: “We use an online tool called Turn To Us and it helps you maximise your income. So it looks at all the different types of help from the Government that you can get and that you should get.
“Because you’d be amazed at how many people we see that are entitled to money from the Government but they’re not claiming it because they don’t know about it.
“So we help people maximise their income that way.
“I mean we had one client that came in that was owed £10,000 by the Department for Work and Pensions. He had no idea, so it’s really important to get help”.
GMB co-host Susannah Reid looked shocked at the staggering sum owed to this gentleman.
She said: “He was owed £10,000? My goodness! I’m not sure everyone would find themselves in that situation.”
The cost of living crisis has hit Britons hard as politicians debate the potential for a windfall tax to alleviate the pressures.
Expert estimates suggest millions of people in the UK could find themselves in relative poverty over rising inflation and a decline in real term income, forcing many to choose between heating and food.
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And while Britons may already be strapped for cash, the boss of clothing and food retailer Marks & Spencer said today that many might not feel the full force of the country’s cost of living crisis until the autumn.
M&S chief executive Steve Rowe said many Britons will spend on the Platinum Jubilee celebrations and then possibly enjoy their first foreign holiday since the pandemic began before the reality of a massive jump in energy bills hits them in September and prompts them to adjust their spending.
Mr Rowe said: “Somewhere between I think the autumn/October period and January, we’ll start to see it bite.
“Those on lower incomes will see it bite earlier perhaps than our customers, where they tend to have a little bit more in the bank and a little bit more savings.”
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In a similarly dire prediction, the owner of British restaurant chain Wagamama projected on Tuesday that food and drink inflation would reach nine to 10 percent this year, nearly double its estimate from two months ago.
British consumers are facing the biggest squeeze on disposable income since at least the 1950s.
They were hit last month by a double whammy of surging household energy costs and higher taxes.
On Tuesday, the UK energy regulator warned household energy bills could surge by another 40 percent in October, from the current £1,971 cap announced in April, which was itself a more than 50 percent rise on the previous level.
Market researcher Kantar has said over one-fifth of UK households describe themselves as “struggling” to make ends meet, piling pressure on the government to do more to help the poorest.