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As inflation rises again, the UK grapples with a cost of living crisis, with essentials at record highs. Nearly a million more people fell into poverty in 2022/23, prompting the Labour government to address economic inactivity and prepare for a challenging budget in October.
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Recent research reveals that two-thirds of working families on Universal Credit struggle to afford essentials, with half running out of food last month. The Trussell Trust calls for urgent government action as inflation and living costs continue to rise, exacerbating poverty levels across the UK.
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The UK state pension is projected to rise by approximately £460 annually from April 2025, based on a 4% increase in average earnings. This adjustment follows the government's commitment to the triple lock system, which guarantees pension increases based on earnings, inflation, or a minimum of 2.5%.