BITC response to update on UK inflation
The Office for National Statistics (ONS) has today announced that inflation has fallen to 7.9%. Commenting on this, Sam Balch, Campaigns Director at Business in the Community (BITC), said:
“The reality is that the cost-of-living crisis has exacerbated the levels of poverty in the UK and pushed many more people into financial difficulties. There needs to be a real collective effort from businesses and government to do what they can to shield people from the impact of this crisis, as even though inflation is falling, the reality of what these higher costs mean for people is deeply worrying. This crisis also comes off the back of public trust in leaders at a seven-year low, which means leaders need to work twice as hard in providing assurances to people that there are plans in place to help them.
“Employers must spend time understanding how the cost-of-living crisis is impacting their employees and customers and ensure that they have supports in place for people struggling to make ends meet.”
BITC’s cost-of-living action plan calls on businesses to ensure that they are doing everything they can to reduce the impact of the cost-of-living crisis on employees, consumers, suppliers, and community organisations. The calls to action include:
- Pay the Real Living Wage to employees and contractors
- Ensure employees have the option to work flexibly
- Understand the needs of your lower-income and vulnerable customers, and how the cost-of-living crisis will impact them
- Provide products and services that are genuinely affordable to increase choice for lower-income consumers
- Share goods and equipment with community organisations that are working with lower-income and vulnerable people.
- Support your supply chain to reduce their energy and resource use
Notes to editor
- Edelman Trust Barometer – https://www.edelman.com/trust
- Read the full Business in the Community Cost of Living Action Plan for Businesses here
For further information, please contact Polly Dacam, Press Officer, at 07713 101878.