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VICTORIA BISCHOFF: Rishi must wise up to the cost-of-living crisis

VICTORIA BISCHOFF: Rishi must wise up to the cost-of-living crisis

Us Chancellor urgently needs a rethink of priorities.

On April 4, just three days after the country’s energy bills skyrocketed to nearly £2,000 a year, Rishi Sunak announced his “ambition” was to make the UK a global hub for something called “cryptoasset technology”. is called.

His comments came just after he asked the Royal Mint to create an NFT by the summer — a non-replaceable token, to give it its full name, a digital asset that represents real-world objects, such as art.

Crypto dreams: Just three days after energy bills skyrocketed to nearly £2,000 a year, Rishi Sunak announced it's his

Crypto dreams: Just three days after energy bills skyrocketed to nearly £2,000 a year, Rishi Sunak announced his ‘ambition’ was to make the UK a global hub for cryptoasset technology

Will you come again? We are in the midst of a relentless cost of living crisis. Households are plagued by bill hikes, food prices are rising, gasoline is at an all-time high — and worse is about to happen.

Inflation is now expected to reach 8 percent, while the war in Ukraine could push energy bills to £2,500 a year or more.

And the stark reality is that millions of people may soon discover — if they haven’t already — that they can’t afford to heat their homes, fill their cars, or feed their families.

Last week consumer champion Martin Lewis warned that we are not far from civil unrest.

“If the breadwinners can’t foresee, anger ensues,” he warned. Meanwhile, retirees who received an increase in their state pension this week could be forgiven for thinking the government doesn’t care about them.

Many are completely dependent on their state pension, with little or no other income. Yet under the old system, retirees only get £4.25 extra per week – under the new system it’s £5.55.

With questions about the Chancellor’s own family’s financial affairs, it’s no wonder people are outraged. So Rishi’s plans to do a “town hall tour” around the country to make sure he stays on top of people’s everyday concerns can’t come soon enough.

While he’s at it, he might want to spend a morning listening to some of the harrowing calls received from the Independent Age charity helpline, as we did last month.

I bet he doesn’t hear a single report of NFTs with my right arm.

Rishi’s popularity would always be temporary. Of course, everyone loved him when he handed out free money and launched “eat out to help out” at the height of the pandemic.

And no one would ever enjoy the tax increases needed to pay back what we borrowed. But that is no excuse for having so little contact with ordinary people.

Perhaps the next time Mr. Sunak feels the urge to brag about the many breads in his home, he can instead find a way to provide meaningful support to all those families struggling to afford a loaf of bread.

Check size

Sorry, Richard Osman. You’re a brilliant writer and I can’t wait for your Murder Club book next Thursday – but Money Mail readers have spoken, and your portrayal of checks viewed by the elderly in your latest novel completely missed the mark. .

Last week I shared an excerpt from The Man Who Died Twice, in which character Joyce seemed very amused at the idea that someone was still using a checkbook. ‘A checkbook! Even I don’t use checks anymore and I’m 77,” she said.

I asked readers to let me know if this dismissive attitude made sense to them – and, as we report, your response has been overwhelming.

Whether it’s sending money to grandkids, donating to charity, or paying the milkman, it’s clear that a large number of people still rely heavily on checks.

Let’s hope the big bank bosses take note.

Your reader wins

I really enjoy a Money Mail win so was thrilled to hear from reader Paul Hardy, who says he is £1,260 richer after reading our story last week.

We have revealed that households are missing out on £20 billion each year because families are unaware of essential tax breaks and benefits.

Paul says: ‘After reading about the marriage tax deduction, I instructed my wife to claim the £252 a year tax benefit.

The application was successful and we will now receive a check for the full retroactive amount of £1,260. Thank you so much for the prompt.’ You’re most welcome!

If Money Mail has ever helped you earn some extra cash, I’d love to hear from you. Write me at the email address below.

[email protected]

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