Summary
In the East of England, many people are using food banks, indicating ongoing cost of living challenges. Measures in the recent budget might impact the economy, with changes like raising the minimum wage and removing some energy taxes. Business owners, like those in the hospitality sector, express concerns over rising costs and their ability to survive financially.
Key Facts
- Over 330,000 people used food banks in the East of England last year.
- Food bank usage indicates ongoing financial difficulties, affecting even teachers, police officers, and nurses.
- The recent budget includes measures like raising the minimum wage and removing certain energy taxes.
- Business confidence is currently low in the East of England, according to local chambers of commerce.
- Hospitality business owners report increased expenses due to rising minimum wage and business rates.
- The food bank co-director expects changes from the budget to take time to impact people's finances.
- A Treasury spokesperson highlighted measures like freezing rail fares to help with the cost of living.
- Industry body Hospitality UK expects that average business rates will nearly double over three years.
