An Oldham MP has criticised the government’s mini-budget as new stats reveal residents across the borough risk inching closer to destitution amid the cost-of-living crisis.

The figures compiled by online campaign group, 38 Degrees, and Survation, a polling and market research agency, show constituents in the parliamentary group Oldham West and Royton are increasingly concerned they will no longer be able to afford their energy bills (63 per cent) and will have to make cutbacks on essentials (61 per cent) in the next year.

The data also revealed 42 per cent are worried they won’t be able to afford their mortgage or rent and 38 per cent are concerned their pension is at risk.

More than 1 in 3 further fear they will have to use a foodbank or will be made homeless in the next 12 months.

Reacting to the figures, the MP for Oldham West and Royton, Jim McMahon, said:  “Liz Truss and Kwasi Kwarteng have crashed the economy and it is working people in Chadderton, Oldham and Royton who are paying the price.

“Rather than helping these people, the Tories have decided to prioritise tax cuts for the rich and the idea that nearly two-thirds of constituents fear they won’t be able to afford their energy bills and a third fear homelessness and resorting to food banks is a disgrace.

“They must do the right thing and reverse this kamikaze budget to stop the spiralling concerns and worries for working people.”

Matthew McGregor, chief executive at 38 Degrees, said that the cost-of-living crisis is evolving into a “cost-of-living catastrophe” for families in Oldham and urged the government to “rip up its disastrous mini-budget and replace it with a proper plan to rescue struggling families”.

A spokesperson for the Treasury said the war in Ukraine was behind the rise in costs but pointed to the government’s Energy Price Guarantee which is estimated to save the average household £1,000 a year for the next two years.

The spokesperson added: “In addition, eight million of the most vulnerable households will get at least £1,200 of additional cost-of-living support this year – meaning they will be eligible for support which exceeds the average rise in energy bills by hundreds of pounds.

“And we’ve cut taxes for everyone, including changes to Universal Credit to help working households keep more of what they earn.”