Speaking on BBC One ahead of chancellor Rishi Sunak’s Budget on Wednesday, he said he is “virtually out of tools to help people now”.
Lewis said: “Just on energy alone, on a conservative estimate within one year, we’re talking £1,300 a year going up in bills. We’re going to have about 10 million people in fuel poverty, we have a real, absolute, not relative poverty issue going to come in the UK, with food banks oversubscribed.
“Debt crisis agencies do not have any tools – and I need to say, with the chancellor coming on in a moment, as the money saving expert whose been known for this, I am virtually out of tools to help people now. It’s not something money management can fix. It’s not something for those on the lowest incomes, telling them to cut their belts will work. We need political intervention.”
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Lewis established the website MoneySavingExpert.com to provide financial tips and tricks, consumer advice, and help citizens cut their costs, find deals and beat the system.
He went on to say: “I’ve been the Money Saving Expert since 2000…I’ve been through the financial crash, I’ve been through Covid. This is the worst, where we are right now.