Martin Lewis warns he is 'virtually out of tools' to help people amid cost of living crisis
Martin Lewis has claimed he is “virtually out of tools” to help people with the ongoing cost of living crisis, telling the BBC’s Sophie Waworth that the country needs “political intervention”.
Speaking on the Sunday Morning political programme ahead of a guest appearance from Chancellor Rishi Sunak, the financial expert warned of the crises facing people in the UK.
He said: “If you look at the fact that just on energy alone, on a conservative estimate within one year, we’re talking £1,300 a year going up in bills. We’re going to have about 10 million people in fuel poverty.
“We have a real absolute – not relative – poverty issue going to come in the UK, with food banks oversubscribed. Debt crisis agencies do not have any tools.
“As the 'Money Saving Expert' who has been known for this, I am virtually out of tools to help people now. It’s not something money management can fix … We need political intervention.”
Lewis’ comments come ahead of Sunak’s spring statement in response to the latest economic forecasts on Wednesday – forecasts which are likely to be impacted by the war in Ukraine and UK’s sanctions on Russia following the invasion.
Speaking to the Mail on Sunday, Sunak said: “My priority over the rest of this Parliament is to cut people’s taxes. That is my mission.
“Let’s not be spending any more money – let’s make sure the money we’re spending is spent really well. That’s got to be the focus, because otherwise it’s hard to cut taxes.”
Lewis’ comments, however, have been met with concern by Twitter users – because if someone branded the ‘Money Saving Expert’ is running out of options, then that’s really not a good sign.
I work with some very low income families who turn to me for support. If @MartinSLewis is out of ideas, what hope do I have offering advice & support. In the last month I have bought shoes for children and breakfast bars out out my own pocket. It is heart breaking.