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Home Business and Economics Business

Martin Lewis says ‘we need to stop blaming the cost of living crisis on Ukraine’

"It is a worsening of the situation. It is not the cause of the situation.”

Joe Mellor by Joe Mellor
2022-03-11 14:19
in Business
Credit;PA

Credit;PA

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Boris Johnson has claimed a “U-turn is the last thing we want” as Labour pressed him to do more to ease the cost of living crisis.

It comes as money saving expert Martin Lewis has called out the government over the rise in the cost of living in the UK.

At this week’s PMQs the Prime Minister defended the financial help offered to Britons to deal with rising energy bills after Labour leader Sir Keir Starmer warned the Government’s approach is a “total mess”.

Sir Keir said the typical energy bill will increase by £700 from next month due to pressures which existed before Russia’s invasion of Ukraine.

He called for a “windfall tax” on the profits of gas and oil firms to generate further funds to help working families.

The Government will give all 28 million households in Britain a £200 up-front rebate on their energy bills from October. This will be recouped by hiking bills by £40 per year over five years from 2023.

Martin Lewis

Speaking on BBC R4 this yesterday the money-saving guru said he was worried the government may be trying to blame the cost of living crisis on Ukraine.

 Kwasi Kwarteng has said many people are willing to make sacrifices because of Ukraine. He’s probably right,” Mr Lewis said.

“But I’m slightly worried we are seeing what may be potentially a deliberate narrative shift that effectively says the entire cost of living crisis is due to Ukraine, and therefore we all need to make sacrifices and that is not correct.

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What has happened in Ukraine has exacerbated the situation. But the rises in energy, heating oil, water, council tax, broadband and mobiles, food, National Insurance were all in place before Ukraine.

“And when we have a budget or a spring statement coming in a couple of weeks, we need to be careful not to allow that narrative to happen and to be used as an excuse that we all need to make sacrifices because of Ukraine, and that’s why we have to suck in the cost of living crisis, because that is not a correct analysis. It is a worsening of the situation. It is not the cause of the situation.”

Related: Martin Lewis fights back tears as he feels powerless to help single mum caught in cost of living crisis

Tags: cost of livingRussia Ukraine conflict

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