Cost of Living Taskforce Report
5 ideas for the Government to tackle the Cost of Living Crisis; setting our bold new recommendations to tackle the cost of living crisis and improve financial resilience long-term.
Watch the video to find out about the report in 60 seconds. Find the full report at the bottom of this page.
The Government create a centralised platform on the Government’s ‘Help for Households’ website to give users access to unique information on the cost-of-living support that is specifically available to them.
2. An exploration into the ways of sharing learning and resources on mental health support for students, with businesses and other private sector organisations being encouraged to financially support university hardship funds for students.
3. A reform of the childcare system with the Government making childcare costs tax deductible for children over 3 months old, alongside an increase in the ceiling for eligibility from £100K to £150K.
4. The Government should launch a large-scale Royal Commission on Personal Energy security and resilience of households to consider long-term solutions to the deficiencies in the current prepayment meter installation system and the problem of voluntary disconnections - examining the consequences of giving households the right to an unbroken supply of gas and electricity, making it illegal to cut off someone’s supply.
5. Consider a change to the rules of the automatic enrolment pensions scheme. Employers could automatically enrol workers into a government-backed ‘rainy-day’ savings scheme to protect against future cost-of-living shocks - facilitating a significant boost in people’s resilience to a future cost-of-living squeeze by allowing workers, businesses, and government to contribute jointly to the crisis fund.
