Cost of Living Crisis
Aug 16, 2022 8:27:27 GMT
Post by cheerypeabrain on Aug 16, 2022 8:27:27 GMT
I saw that Mark has a thread 'living costs in the uk' however I think that the global economy has taken a massive hit because of the pandemic and the war in Ukraine (altho this is probably an oversimplification of a very complex issue). In the UK we have the additional problems caused by Brexit.
The hike in our energy bills are causing huge concern here. The government has in place a price cap which used to be reviewed every 6 months (ever upwards predictably). Most customers would shop around for the best price and we were encouraged to switch to the best tarrif. Companies (basically middle men) would compete to offer the best deal and we could sign up for 12 months or so paying an agreed amount monthly based on our predicted usage. It was expensive, but affordable. People on low incomes or benefits could have a prepay meter installed so that they didn't get into debt. However...the price cap is now reviewed every 3 months (at the energy companies request).
Our energy bill was about £1000 last year...because the price cap has been increased we are now looking at £2000+. The October review means that the bill will be around £3000 and that is expected to rise to £4000 in January. Nobody wants to commit to a long term contract in case the price goes down. One survey (it was done for the Labour party tho so allow for spin ) estimates that by January 50% of the population will be in fuel poverty!
Wages haven't kept up with inflation, the difference between public and private sector pay is alarming (altho both have been offered wage increases well below inflation) The government claim to have offered public sector workers a good wage rise but they cherry pick certain professions (and only certain roles in that profession) and of course most workers have been offered nothing at all.
The price of petrol has increased (probably because of the supply crisis) and the knock on effect of the transport and energy costs combined with poor harvests (due to the weather) and production costs means that a trip to the supermarket is terrifying. My own grocery bill has increased by £20+ per week.
I'd be inerested to hear how other countries are dealing with these economic problems and how the populations are coping.
The hike in our energy bills are causing huge concern here. The government has in place a price cap which used to be reviewed every 6 months (ever upwards predictably). Most customers would shop around for the best price and we were encouraged to switch to the best tarrif. Companies (basically middle men) would compete to offer the best deal and we could sign up for 12 months or so paying an agreed amount monthly based on our predicted usage. It was expensive, but affordable. People on low incomes or benefits could have a prepay meter installed so that they didn't get into debt. However...the price cap is now reviewed every 3 months (at the energy companies request).
Our energy bill was about £1000 last year...because the price cap has been increased we are now looking at £2000+. The October review means that the bill will be around £3000 and that is expected to rise to £4000 in January. Nobody wants to commit to a long term contract in case the price goes down. One survey (it was done for the Labour party tho so allow for spin ) estimates that by January 50% of the population will be in fuel poverty!
Wages haven't kept up with inflation, the difference between public and private sector pay is alarming (altho both have been offered wage increases well below inflation) The government claim to have offered public sector workers a good wage rise but they cherry pick certain professions (and only certain roles in that profession) and of course most workers have been offered nothing at all.
The price of petrol has increased (probably because of the supply crisis) and the knock on effect of the transport and energy costs combined with poor harvests (due to the weather) and production costs means that a trip to the supermarket is terrifying. My own grocery bill has increased by £20+ per week.
I'd be inerested to hear how other countries are dealing with these economic problems and how the populations are coping.
