Since 2021, residents of the United Kingdom have been affected by the Cost-of-Living Crisis. This is due to the price of everyday items and goods going up in price in a short period of time, with households not being able to keep up with the rise of costs. There have been many factors that has contributed to the financial hardship many Britons are currently facing.
One factor that has been affecting British citizens during the cost-of-living crisis is housing. It has been difficult for British people to rent or buy a house in this current economic climate. Rental prices have been high, making it difficult for individuals and families to find affordable accommodation. Additionally, property prices in certain regions have been rising faster than wages, making it challenging for people to get on the property ladder. Rent and mortgages have increased significantly during this time therefore it has been difficult for people to keep up with all of their bills and pay for their housing.
While the UK has experienced economic growth, wages have not necessarily kept pace with the rising cost of living. Many people have been faced with stagnant wages which makes it harder to cover their expenses, especially when housing costs and other essential expenditures are increasing.
Changes to the welfare system have also impacted people's ability to meet their living costs. Reductions in welfare benefits and changes to the eligibility criteria have affected vulnerable individuals and families, pushing them into financial hardship. Benefits have been cut for millions of families in the United Kingdom which has increased financial worry in many households. This has increased poverty levels in the country especially amongst the most vulnerable.
The cost of energy bills, including gas and electricity, have been increasing in recent years. Higher energy prices can put additional strain on household budgets, particularly for those on lower incomes. Furthermore, the Russian/Ukraine conflict has affected the energy prices in the UK. Energy bills have increased significantly since it began in February 2022. This has led to many people feeling stressed and hopeless.
Inflation is another factor that affects the cost of living. When the prices of goods and services rise faster than people's incomes. The current UK inflation rate stands at 8.7% for July 2023 which is significantly higher than the inflation rate in 2021 which was only 2.52%. This causes families to struggle to afford everyday items and increases a decline to people’s incomes and savings.
The COVID-19 pandemic has had far-reaching economic consequences, with job losses, reduced working hours, and business closures. Many individuals and families have faced financial difficulties due to these disruptions, further exacerbating the cost of living crisis.
Cost of living drop-in support sessions at RISE & Shine Coffee Morning
RISE Projects has undertaken numerous initiatives to help ease the burden of the Cost-of-Living crisis on Somali Families. We run weekly coffee morning sessions at the Trampery, where we extend our support by providing assistance with the Haringey Support Fund, housing issues, DHP (Discretionary Housing Payment) forms, workshops on health and wellbeing, financial budgeting, digital inclusion, women's empowerment, parenting programs, and safety. Through these activities, we aim to assist individuals who find themselves struggling to navigate the challenges brought about by the cost of living crisis in the UK. Our objective is to ensure that they feel included and supported in conversations and equipped to tackle any hardships that may arise.
RISE Community Food Hub at St Ann’s Library
We have also been having weekly officer drop-ins and helping those who struggle to navigate this cost of living crisis in the UK. By offering guidance and support, we strive to ensure that individuals do not feel left out and are equipped to effectively address the challenges they face.
There is also a weekly food bank every Saturday at St Ann’s Library, Cissbury Road, London, N15 5PU. With the support of the Felix Project, who provides us with a weekly surplus food, we help underprivileged families gain access to everyday food items so that grocery shopping is not a burden to them. This initiative aims to provide underprivileged families with access to everyday food and household items.
We at RISE Projects are forever grateful to the families and people that we support. We try our best to help those who are going through financial and emotional hardship and try to assist where necessary. We hope that our initiatives have been helpful to resident.
Written by Hadsan Mohamud, Community Engagement Officer at RISE Projects