Cost of living crisis starts to bite

[Silver]

Cost of living crisis bites: Poll finds 60% of working-age Brits have already cut their spending to make ends meet – and half of home owners worry they won't be able to pay the mortgage

Nearly half of home owners 'very' or 'moderately' worried at paying mortgage

Most working-age Britons have already cut back on spending to make ends meet amid fears over soaring prices, a poll found today.

Research for MailOnline showed growing alarm among the public at cost of living pressures pushing up bills for energy and other essentials.

Some 60 per cent of those aged 18-64 say they have trimmed expenditure over the past month in response to the situation, and 57 per cent said they plan to do so over the next three months.

Poll finds 60% of working-age Brits have already cut spending amid cost of living crisis | Daily Mail Online#

I wonder what could have so adversely affected our economy since January 1st? We'll probably never know, just one of those things.

 

Edited October 14, 2021 by The Silver Shroud

[Eldorado]

Britons told to brace themselves for worst standard of living since records began

Today The Mirror reported that the average home will pay a record extra £693 in energy costs due to a rise in a price cap set by regulator Ofgem.

A quarter of all British households are expected to be plunged into fuel poverty by the increase in these bills.

If that were not enough, the cost of other goods is going up too. Inflation is currently 5.4% and could rise to more than 7% in the next few months.

Today the Bank of England raised interest rates from 0.25% to 0.5% to control soaring inflation. But the Bank also said that post-tax disposable income will fall by 2% this year, the biggest drop since it started tracking this in 1990.

MSN

[Silver]

The rise in energy prices and inflation at the moment is estimated to damage our personal disposable income by about 2%. Brexit is going to add 4% (there are stats and evidence to support this).  I can't understand why people are concerned about these increases, but unconcerend about the damage Johnson and his Brexit are doing? Why has the UK chosen to cut itself adrift from a huge economic bloc of 500M people, with the co-operation and the bargaining power they have? And we were a major member. We all know now that all the so-called Brexit benefits ( our fishermen, farmers and industries would blossom once released from EU red tape were all lies, our goverment is made up of liers), so why don't we push to rejoin the single market? There is nothing to be ashamed of in admitting we were misled by liars.

[itsnotoutthere]

Proposed rise in fuel costs today but with the following hidden in the cost

Environmental green levies : 10 %

But It'll all be worth it when we go green :-

Edited February 4, 2022 by itsnotoutthere

[Eldorado]

Protesters across UK demonstrate against spiralling cost of living

Protesters demonstrated in dozens of towns and cities across the UK on Saturday to highlight how the spiralling cost of living crisis is affecting the public.

The demonstrations, co-organised by anti-austerity organisation People’s Assembly and supported by trade unions, were held in at least 25 towns and cities, from London to Glasgow to Bangor.

The protests come as UK inflation jumped to 5.4% in December, the highest rate in almost 30 years. The Bank of England warned CPI will hit 6% by April, with governor Andrew Bailey coming under fire for suggesting workers should not ask for big pay rises to control it.

https://www.theguardian.com/business/2022/feb/12/uk-cost-of-living-protesters-demonstrate-peoples-assembly

[Eldorado]

One of the UK's biggest energy suppliers has warned that up to 40% of its customers will be in fuel poverty by October as it called on the government to help struggling homes.

E.On UK boss Michael Lewis said the rise in energy prices is "unprecedented" and a growing number of its customers are in arrears.

The government is facing calls to levy a windfall tax on oil and gas firms.

Education Secretary Nadhim Zahawi said Rishi Sunak will look at all options.

https://www.bbc.co.uk/news/business-61541294

[Tatetopa]

OMG!  Did Biden mess up your country too? It must have been him right?

[L.A.T.1961]

17 minutes ago, Eldorado said:

One of the UK's biggest energy suppliers has warned that up to 40% of its customers will be in fuel poverty by October as it called on the government to help struggling homes.

E.On UK boss Michael Lewis said the rise in energy prices is "unprecedented" and a growing number of its customers are in arrears.

The government is facing calls to levy a windfall tax on oil and gas firms.

Education Secretary Nadhim Zahawi said Rishi Sunak will look at all options.

https://www.bbc.co.uk/news/business-61541294

The method of assistance will have to be carefully chosen as when inflation easies and fuel prices normalise there will be a call by the usual suspects to leave help in place.

Its always easier to give than take back and making the Gov look unsympathetic is an opportunity too good to miss. 

If the situation was non political the decision would be easer but the Gov needs a method of assistance that is useful but will not give the other parties a free shot at goal later on. 

 

[Eldorado]

Thousands of people have marched in central London demanding more action from the government over the rising cost of living.

The march in central London came as the country braces for major rail strikes next week, after talks failed to resolve a dispute over pay, job cuts and workers' conditions.

Beginning in Portland Place, the protesters walked to Parliament Square for a rally organised by the TUC.

Banners read "end fuel poverty, insulate homes now", "nurses not nukes" and "cut war not welfare".

https://www.msn.com/en-gb/news/uknews/what-about-bankers-bonuses-cost-of-living-march-sees-thousands-demand-action-over-rising-price-hikes/ar-AAYCoiz?

[Autochthon1990]

"We hereby call for the resignation of Minister Racistbus for his horrible handling of the Brexit issue"

Guys, seriously, you honked off your largest trading partner and completely destabilized the market over a 3% Muslim population and not wanting to have to listen to a group that /you directly helped elect/. The only thing shocking about this is that anybody over there finds this even remotely shocking. 

[Eldorado]

Prices are continuing to rise at their fastest rate for 40 years as food, energy and fuel costs continue to climb.

UK inflation, the rate at which prices rise, edged up to 9.1% in the 12 months to May, from 9% in April, the Office for National Statistics (ONS) said.

The figure is now at the highest level since March 1982, when it also stood at 9.1%.

The Bank of England has warned inflation will reach 11% this year.

https://www.bbc.co.uk/news/business-61891649

[qxcontinuum]

I am afraid it won't because someone up there or down here, has an agenda for us and it doesn't look to be pretty or at least we think so.

The population numbers has to decline somehow. Surely political instabilities, cost of living increase, the gay current heavily promoted, Mondial pandemics and so much more does impact some of the core values of our society and it's main drivers. The concept of family and procreation is declining. We're nearing 9 billion and world population has doubled in just half of my life time. Through though measures and instability, ppl won't multiply as much. 

We exploited so much of earth resources during approx. 40"years of economical 'orgies' in what we called consumers society. Ppl have to learn to appreciate the items they buy, much longer, reduce waste and yes eat less reducing obesity. The cost of living increase and energy will drive all the good thinks ( for the planet) not so much for us, facing lost of comfort but it's a small price to pay for what we have done to this planet. 

Besides this trend should force everyone to think more about renewable energies. 

[ThereWeAreThen]

Price gouging at its finest. Blaming it on the war, wage increases and people no spending much money. Yet they're making more money than ever.