A raft of measures have just been announced aimed at bringing down the cost-of-living for young people and families as people feel the squeeze from the conflict with Iran
UK Prime Minister Sir Keir Starmer (Image: Wiktor Szymanowicz/Future Publishing via Getty Images)
Thousands of people across Wales will be better off from today after a raft of measures including wage increases and energy price cuts were announced by the UK Government.
On Monday, Prime Minister Sir Keir Starmer hosted a roundtable with energy, insurance, and shipping companies and on Tuesday he chaired a COBR(M) meeting to assess the situation with colleagues from his Cabinet. Read the biggest stories in Wales first by signing up to our daily newsletter here.
As a result of those talks, the following will come into force on Wednesday (April 1):
- Increasing the National Living wage to £12.71 – a £900 boost for workers
- Increasing the National Minimum Wage to £10.85 – a £1,500 boost for young workers
- The wage increases will together benefit up to 170,000 workers in Wales
- Cutting energy bills by an average £117 a year for millions across the UK – locked in until end of June
This follows further announcements made on March 16 including cutting the energy price cap until the end of June, extending the cut in fuel duty until September, and providing £53 million for households that are most exposed to heating oil rises.
The cut to the energy price cap comes on top of the £150 Warm Home Discount that around six million families will have received this winter following its expansion last year.
Sir Keir said: “In an uncertain and volatile world, it is my Government’s duty to protect the British people at home and abroad.
“I know the public are concerned about the conflict in Iran and what it means for them and their families.
“I want to reassure them that they have a government on their side, working with allies on de-escalation and bearing down on the cost-of-living.
“Today, millions of people up and down the country will see energy bills go down by £117, wages go up for the lowest paid, and more support will be available for people who need it most – because of the decisions this government has taken.
“But we must go further to bear down on costs, and that means pushing for de-escalation in the Middle East and a re-opening of the Strait of Hormuz.
“That is the best way we can bring down the cost-of-living for families and that is my focus.”
Secretary of State for Wales Jo Stevens added: “Hundreds of thousands of people across Wales will very soon start to feel the benefit of some of the measures we are taking to help with the cost-of-living.
“Reducing energy bills as well as boosting wages mean that we are delivering on this Government’s key priority of putting more money back in people’s pockets.”
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