Today was, in the words of Resolution Foundation’s Torsten Bell, “Cost of living crunch day.” We had Ofgem’s announcement of the energy price cap rise. Expect to come across phrases such as ‘unprecedented’, ‘eye-watering’ and parents across the land beseeching their children to close the front door.
This was followed by the Chancellor’s announcement on how the Government intends to respond to what the Bank of England (more on them later) called the biggest fall in livings standards since comparable records began.
