Former chancellor Rishi Sunak announced interventions (a £150 council tax rebate and a £400 rebate on energy bills), but these additional measures may not be able to solve all the problems the population is facing.
While they will go some way to dealing with this cost of living issue, this is only a short-term solution.
As a result, it is likely it won’t just be political leaders who are under pressure. Company leaders too will increasingly be expected by employees to introduce their own mitigations against this crisis.
This could mean leaders will have to accept a second coming of working from home for those whose jobs can be done in this way, or alternatively, employees could start to flock back to the office in an attempt to combat the rising costs of working from home.
What's more, not all households will have the same financial experiences. For example, employees who live further away and therefore incur higher travel costs will have to consider both travel and energy costs when deciding which model of working makes them financially better off in the current climate.
One of the pervading themes of the 'great resignation' was people wanting greater working flexibility and a healthier balance between their personal and professional lives.
If that balance is taken away, and people are forced to come into work at greater expense than ever, firms could face further exoduses of talent.
There is still a lot of work to be done to determine where the pendulum will really swing post-pandemic, between 100 per cent working in the office (as it was before Covid) and 100 per cent at home (as it was during lockdown).
Working from home may help mitigate the cost of living crisis, but is it the easiest and cheapest method?
We are enduring an unprecedented cost of living crisis due to inflation. With that in mind, we might see the working from home debate flipped on its head.
Colin Dean is major accounts director at document management platform M-Files
