Racing Welfare's Annual Review 2022/23

OUR CHANGING
WORLD
•
THE COST OF LIVING
During 2022 we saw sharp, steep increases in almost every facet of the cost of living in the UK which, despite some Government
mitigation packages, saw the real pay fall by 2.25% across the year.
| 10
| 10
DURING 2022
WE SUPPORTED
BENEFICIARIES
TO ACCESS OVER
£125,000
OF UNCLAIMED
BENEFITS
Food and energy prices have been rising markedly over the
past year, particularly gas prices, largely in response to the
conflict in Ukraine. Global recovery from COVID-19 is
also putting further pressure on prices. The ONS reports
almost half of adults are buying less food, over half are
heating their homes less and 1 in 3 are struggling to afford
their housing costs.
These issues of course affect racing’s people, but the
nature of the industry means they as a whole are less
able to mitigate the higher cost of living by, for example,
taking on a second job or cutting down on travel to work or
childcare. The effect of the rising cost of living on racing’s
people has led to a significant increase in demand for
financial support, with ‘Money Matters’ accounting for
22% of all instances of support in 2022 – a jump from
9.6% in 2021.