Rishi Sunak has finally announced his plans to help tackle the increasing cost of living within the UK, one of which is a pledge of £9bn to help a third of all UK households.

Director of Benham and Reeves, Marc von Grundherr, commented:

“While the monthly cost of a mortgage looks set to keep on climbing, a good number of UK households can breathe a sigh of relief as Rishi Sunak pledges further money to help alleviate the cost of living crisis.

Over £15bn announced to help mitigate increased energy costs for those on benefits, pensioners and the disabled, will go someway in helping the most financially vulnerable in society and the refreshed reduction in council tax will also help ease monthly living costs, with a £400 reprieve that is not longer required to be repaid.”

James Forrester, Managing Director of Birmingham estate agent Barrows and Forrester, commented:

“A step in the right direction but far too little, too late, for many of the worst hit UK households.

Quite frankly today’s announcements feel like forced rhetoric from a government on the back foot and as we know all too well, the results rarely match the headlining fuelling hot air.”

What about reducing the cost of energy at the pump to make an immediate, meaningful impact?”