New analysis from Mansfield Labour, based on the latest Legal and General RBI survey, reveals:

• 6,227 households in Mansfield – more than one in ten – have nothing left to cut back in the face of future energy price hikes
• 23,471 households in Mansfield (49%) are concerned about being able to keep up with rent or mortgage payments over the next 12 months
• 33,051 (69%) are being forced to make additional cutbacks on their household budgeting

The analysis comes ahead of a predicted 64% energy price cap hike in October. Labour has committed to tackling the cost of living crisis with:

• VAT cut on energy bills
• Reduce energy bills by insulating 19 million homes
• Cut small business rates
• Buy, make and sell more in Britain

Publishing the analysis, Paul Henshaw, chair of Mansfield Labour said,

“These figures are frightening. The cost of living crisis is spiralling out of control, and families in Mansfield are bearing the brunt.

“People need real help now – but the Conservative Government is missing in action. But Labour has a plan – we’d cut VAT on energy, insulate homes to bring down energy costs, slash small business rates and build an industrial strategy around buying making and selling more in Britain.”

“After twelve years of Conservative rule the country is in total crisis. We need action now – or better yet a change of government and an end to more than a decade of failure.”

ENDS

Notes to Editors

The Legal and General Rebuilding Britain Index is published here:https://group.legalandgeneral.com/en/newsroom/press-releases/over-one-in-ten-uk-households-have-nothing-left-to-cut-back-on-in-the-face-of-further-energy-price-rises-legal-general-finds

The Legal & General RBI was established to measure the UK’s progress in levelling up on a quarterly basis, surveying 20,000 people and tracking social and economic progress

According to the RBI:

• 13% of respondents feel they would have nothing left to cut back on in the face of future energy price increases
• Almost half of UK households (49%) are concerned about being able to keep up with rent or mortgage payments over the next 12 months.
• A further 69% are being forced to make additional cutbacks on their household budgeting

There are 47,600 households in Mansfield so extrapolating from the RBI:

• 6,227 households in Mansfield feel they would have nothing left to cut back on in the face of future energy price increases
• 23,471 households in Mansfield are concerned about being able to keep up with rent or mortgage payments over the next 12 months
• A further 33,051 households in Mansfield are being forced to make additional cutbacks on their household budgeting

[link to data]