The British are facing a collapse due to the rising cost of living. On average, at least 1,200 pounds will not be enough for families to pay for supplies and food, experts warn, writes Sky News, quoted by BGNES.
Rising inflation, rising energy prices and heavier taxes will shake the last coins out of the pockets of ordinary Britons. Apart from that, national insurance contributions jumped by 1.25 percentage points. At the same time, experts expect a peak in inflation in the spring of 6%, which will be an additional shock for households.
Labor spokesman Jonathan Ashworth told Sky News that the Conservative government was to blame. “Working people, families, retirees are facing a devastating cost of living crisis. This is because we have had 11 years of economic failure of the Tories. We now have low growth and a high tax economy. This means that heating bills are rising, store prices are rising because we have inflation, which is also undermining savings and pensions, there are higher taxes, wages are melting, which means that families are struggling to make ends meet, even when working around the clock. “Ashworth added.
According to estimates by NGOs in the country, the ceiling on energy bills is expected to rise by around £ 500 a year. These additional costs will disproportionately affect low-income families who spend more than their energy income.
By the end of 2024, real wages will be £ 740 lower a year than if the pandemic had not occurred. Last month, it became clear that the consumer price inflation index rose to 5.1% in November from 4.2% in October.
A government spokesman said it had taken “decisive action” worth 4.2 billion British pounds to help families.
“Now” recalls:
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