A ‘Missed Opportunity’ for Meaningful Action
Graeme has criticised the UK Government’s Spring Budget statement as falling far short on vital help for households, businesses and public services through the cost of living crisis.
The Scottish Government has accused the Chancellor of the Exchequer of failing to deploy the full range of powers available to him to mitigate the impact of soaring energy prices and high inflation.
While welcoming a number of individual measures such as the extension of the energy price guarantee – with a typical household’s energy bills set to rise by almost a third in April – the SNP has said that substantive actions such as restoring the Universal Credit uplift were notably absent.
The Scottish Government is calling for the inflation-proofing of its own budget, so that it can better co-ordinate spending across Scotland.
In a letter to the Chancellor ahead of the Spring Budget, the Deputy First Minister had urged specific measures to help households, invest in public services and support the economy to grow – including reinstating the uplift to Universal Credit and providing tax incentives for businesses.
Ahead of the UK Budget, the Resolution Foundation estimated that typical incomes among non-pensioner households will fall by 4% in 2023-24 in real terms, compared to 3% in 2022-23.