Temporary discount on kids’ buses won’t fix cost of living

The New Economics Foundation has reacted to Rachel Reeves’ announcement of the ​“Great British summer savings scheme”.

Hannah Peaker, deputy chief executive at the New Economics Foundation (NEF), said:

“It’s good to see government recognising that it needs to take action to tackle the cost of living. This is the number one concern for voters and living standards are currently set to decline in this Parliament. But with many household costs significantly higher than they were and the war in Iran due to push prices up even further, a temporary discount on kids’ bus fares doesn’t go far enough.

“By taking tougher action on rents, energy and transport costs the government can help tackle inflation and prevent the Bank of England having to intervene with rate rises, which make it even harder for government to protect us from future shocks.”