Benefits must rise to twice as much as planned to ease cost of living crisis, says IFS

Current plans not fit for purpose amid squeeze on families, says Institute for Fiscal Studies

Benefits must be increased by twice as much as planned this year if the poorest households in Britain are to be supported through the cost of living crisis, a leading economics thinktank has said.

Warning the government that its current plans were not fit for purpose amid the worsening squeeze on families, the Institute for Fiscal Studies (IFS) said an additional 3bn needed pumping into the welfare system in response to soaring energy bills and mounting inflationary pressure.