Women cannot be the shock absorbers of another cost of living crisis, says WBG

Dr Daniella Jenkins, Executive Director at the Women’s Budget Group, said,

“Today’s rise in the National Living Wage and National Minimum Wage is welcome news for low-paid workers – particularly women, who are twice as likely as men to be in low-paid work. But while this should be an important boost at a time when every pound counts, the reality is that for too many women, any relief is likely to be short-lived.

“From this month, households are already facing higher bills for essentials like water and council tax. At the same time, the war in Iran has caused severe disruptions to fuel supplies, driving up oil and gas prices, with knock-on effects for food and other everyday goods expected to follow. Families are already feeling the pressure of rising fuel costs, and further supply chain disruption risks pushing the prices of essentials even higher in the months ahead.

“We know from past crises that women are hit first and worst when costs rise. Lower average incomes and savings mean they spend a greater share on essentials, and the last cost of living crisis showed  how women, as the shock absorbers of poverty, are too often left stretching budgets, hunting for discounts, skipping meals and going without to keep their families afloat. It cannot be women who continue to shoulder the burden every time the economy is hit by shocks.

“There is a better path. The government has shown it can act more decisively on the cost of living – through measures like capping rail fares and prescription charges. Now it must go further: preventing oil and gas companies from profiteering during yet another crisis by strengthening taxes on excess profits, and using that revenue to support households and invest in long-term economic resilience. By investing in the transition to secure, homegrown clean energy, we can protect families from future shocks, tackle deepening inequalities, and make everyday life more affordable.”