Kate and William to ‘focus’ on cost of living crisis

Kate Middleton and Prince William are likely to focus on the cost of living crisis as Britain witnesses one of its worst economic crises, a news report has stated. According to Sky News, ahead of their visit to Scarborough, the cost of living crisis has become a key focus for William and Kate, and the team at their Royal Foundation.A source told the news agency: “The cost of living crisis is a lens through which they’re now looking at their work.”Official figures released in September showed inflation hit 10.1 percent – matching a 40-year high seen in July – with much of this increase driven by rising food costs.The news report further stated that even though the prince and princess are mindful of their own privileged position, a palace source told Sky News “they are not shying away from the issue” of the rising cost of living and are keen to “support the hard-pressed” in “parts of the country that need a light shone on them”.Two neighbourhood wards in Scarborough are in the top 10 most deprived places in England, with many facing challenges in terms of unemployment, poverty and lack of opportunities for young people. Kate and William to ‘focus’ on cost of living crisis as recession looms over UK (Image: Getty Images) The visit to Scarborough was celebrating a new kind of partnership between the couple’s charity (Image: Getty Images)The visit to Scarborough was celebrating a new kind of partnership between the couple’s charity, the Royal Foundation, and local groups, with the foundation using its expertise and profile to help organisations in the area secure almost £400,000 in funding.Jan Garrill, chief executive of the Two Ridings Community Foundation, has been working with the Royal Foundation.She believes the impact of rising costs will cause more damage than COVID-19 in the long term for many families.But she said the royal visit was important for celebrating the positive work that is going on – “that focus on place and people is great for us. It amplifies what we do in a way”.READ MORE: Britons’ scramble to heat homes with log burners raises dry kiln priceInteresting new Palace framing of William & Kate as cost-of-living campaigners reported by my colleague @SkyRhiannon. William’s just inherited the revenue from the £1bn Duchy of Cornwall property & investment portfolio, worth £21m to his father last year https://t.co/bLAzYSIbNs- Paul Kelso (@pkelso) November 3, 2022 Meanwhile, the Bank of England has raised interest rates by 0.75 percentage points to three percent – the biggest hike since 1989.It also predicted that the UK is facing a “very challenging” two year recession – which would be the longest on record.The higher interest rate will be welcomed by savers, but the rise will have a knock-on effect on for those with mortgages, credit card debt and bank loans.Interest rates have been rising since December in an effort to curb soaring prices – inflation is at its highest for 40 years.DON’T MISS:Trump calls Biden ‘worst’ President in American history [BREAKING]Donald Trump might announce presidential run ‘before Thanksgiving’ [REVEAL]Lindsay Hoyle swipes at Matt Hancock over I’m a Celebrity appearance [INSIGHT]Chancellor Jeremy Hunt acknowledged the difficulties facing homeowners and businesses, but pledged to get the economy under control and “deliver lower mortgage rates, more jobs and long-term growth”.Shadow chancellor Rachel Reeves said families could not withstand such high rate rises “when we’ve got rising food prices, rising energy bills and now higher mortgage rates as well”.