Spring Statement response from abrdn Financial Fairness Trust
26 March 2025Commenting on the Spring Statement, Mubin Haq, CEO of abrdn Financial Fairness Trust, said:
“The Chancellor is right that we should not put household finances in danger. However, the cuts to disability benefits means many will see significant falls in their incomes. Our research shows that nearly one-in-three disabled people find it a constant struggle to meet their bills and credit commitments. While the government’s ambition to support more people into work is welcome, this cannot be funded by taking away from some of the most financially insecure people.
“Our recent polling shows that 80% of the British public are willing to accept further tax rises if necessary to improve public services. We urge the Chancellor to look again at whether it is necessary to cut support and services for those on the lowest incomes. In these turbulent times the public would understand the need for tax rises to provide the economic security our society needs.”
“The Chancellor is right that we should not put household finances in danger. However, the cuts to disability benefits means many will see significant falls in their incomes. Our research shows that nearly one-in-three disabled people find it a constant struggle to meet their bills and credit commitments. While the government’s ambition to support more people into work is welcome, this cannot be funded by taking away from some of the most financially insecure people.
“Our recent polling shows that 80% of the British public are willing to accept further tax rises if necessary to improve public services. We urge the Chancellor to look again at whether it is necessary to cut support and services for those on the lowest incomes. In these turbulent times the public would understand the need for tax rises to provide the economic security our society needs.”