Chancellor Rishi Sunak delivered his Spring Statement today amid mounting pressure to tackle the UK's devastating cost of living crisis which has seen the price of fuel and energy skyrocket.
Despite the Chancellor announcing a 5p drop in fuel duty per litre and a major National Insurance change that will save low-income workers £330 a year, families are still set to be rocked by the rising rate of inflation, which today hit a 30-year high of 6.2 per cent - and is forecast to climb even higher later in the year.
All this comes on top of the energy bill hike announced earlier this year, which will see millions of households pay almost £700 more from April this year.
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Speaking today after the Spring Statement, Money Saving Expert's Martin Lewis said his "head sunk" when he heard Rishi Sunak's address to the House of Commons - as he also warned of a "bleak winter" for struggling families.
In one tweet, Martin said: "If that's all he's doing on energy - it is limited and won't impact the majority of households who will see a likely £1,300 average increase in year-on-year bills by October.
"My head has sunk. I just hope there's a rabbit to come out of the hat."
Fed-up Brits have also been sharing their thoughts on social media amid the energy bill hike, with many worried that they simply won't be able to "make ends meet" if more is not done to limit the rising costs.
One Twitter user said inflation is "truly through the roof", while another branded the increased costs to his 78-year-old grandmother as a "disgrace".
A carer also shared pictures of her bills online, as she said the energy price rise will cost her an extra £1100 for bills that are already high.
She pleaded: "I cannot tighten my belt anymore."
Labour Party MP Naz Shah - who is the Member of Parliament for Bradford West - was also among those who took to Twitter in outrage, as she shared images of bills she had been sent by a business in her constituency that showed a staggering 353 per cent increase.
"Businesses are on the brink of collapse", she wrote, "and this Government is sitting idly by!"
And several other worried Brits have taken to social media to vent their frustrations at the price hikes, which some say are set to see them struggle to find an extra £3,500 a year.
One person wrote: "My gas and electric bill has gone from £122 in December when my fixed price ended, to £418 per month - not sure where I’m going to find the extra £3,500 a year from? Someone is doing well out of this but it’s not us."
While another said: "It’s so disappointing. The 0.05p cut on the fuel duty isn’t going to pay my heating oil or electricity bill. It kind of feels like hollow gestures."
"I’ve just been asked to pay £500 a month for my bill. How can people afford this? Flabbergasted and shocked. Debts will be rising", a third person posted.
Have you been hit by the cost of living crisis? Get in touch with us at yourmirror@trinitymirror.com
