The number of Britons living in poverty could reach 1 million over the next year if the government does not take urgent action to tackle the crisis, leading think tank NIESR has warned.
This is reported Bloomberg.
In a negative assessment, the National Institute of Economic and Social Research reports that another 250,000 families will be on the verge of poverty and warns that the United Kingdom will soon plunge into recession.
To ease the crisis, experts say Prime Minister Boris Johnson’s government needs to provide a $5.2 billion support program to help the hardest hit families feed themselves.
By the end of 2022, the UK is forecast to experience a 40-year-high inflation rate of more than 14 percent.