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Big Squeeze.
Inflation is set to cost a typical family £1,800 by the end of the year and HALF have already started cutting back - but Boris insists he's 'not worried' about price rises and it's 'not his job' to fix supply chains
The financial squeeze that Britons are facing this winter thanks to inflation driven by labour shortages, rising energy costs and gaps in global supply chains as the coronavirus pandemic subsides has been revealed by research - a day after the Prime Minister dismissed cost of living fears at the Conservative Party conference. Exclusive research for the Daily Mail by the Centre for Economics and Business Research (CEBR) reveals how inflation will cost the typical family of four an extra £1,800 by the end of this year, while a retired couple can expect to see living costs rise by more than £1,100, and a lower income couple could be stung by nearly £900. Meanwhile, a Money Mail poll today reveals that one in two households have already started making cutbacks due to concerns over the rising cost of living. Families who have already endured Covid-related uncertainty over last 18 months now face a triple-blow of rising energy bills, soaring food prices and incoming tax hikes. But while many Britons are fear a financial hit, Prime Minister Boris Johnson yesterday insisted that he is not worried about rising prices because he believes they will be temporary, and insisted it is 'not his job' to fix every aspect of supply chains in the UK. When pressed on the UK's HGV driver shortage he attempted to deflect attention back to the private sector, saying 'it's not the job of government to come in and try and fix every problem in business and industry'. Referencing Margaret Thatcher's 1980s dictum - which ironically she used to stress the need to control inflation in a market economy - Mr Johnson said: 'In a famous phrase, there is no alternative. There is no alternative.
https://www.dailymail.co.uk/news/article-10063113/Brits-face-big-squeeze-Inflation-cost-typical-family-1-800-end-year.html
The financial squeeze that Britons are facing this winter thanks to inflation driven by labour shortages, rising energy costs and gaps in global supply chains as the coronavirus pandemic subsides has been revealed by research - a day after the Prime Minister dismissed cost of living fears at the Conservative Party conference. Exclusive research for the Daily Mail by the Centre for Economics and Business Research (CEBR) reveals how inflation will cost the typical family of four an extra £1,800 by the end of this year, while a retired couple can expect to see living costs rise by more than £1,100, and a lower income couple could be stung by nearly £900. Meanwhile, a Money Mail poll today reveals that one in two households have already started making cutbacks due to concerns over the rising cost of living. Families who have already endured Covid-related uncertainty over last 18 months now face a triple-blow of rising energy bills, soaring food prices and incoming tax hikes. But while many Britons are fear a financial hit, Prime Minister Boris Johnson yesterday insisted that he is not worried about rising prices because he believes they will be temporary, and insisted it is 'not his job' to fix every aspect of supply chains in the UK. When pressed on the UK's HGV driver shortage he attempted to deflect attention back to the private sector, saying 'it's not the job of government to come in and try and fix every problem in business and industry'. Referencing Margaret Thatcher's 1980s dictum - which ironically she used to stress the need to control inflation in a market economy - Mr Johnson said: 'In a famous phrase, there is no alternative. There is no alternative.
https://www.dailymail.co.uk/news/article-10063113/Brits-face-big-squeeze-Inflation-cost-typical-family-1-800-end-year.html
Comments
Also demand for our debt crisis service has us running at 100% of our ability to help meaning we cannot offer advice or help to people struggling with debt.
This isn't just our Church, but a Citywide pattern which will get exponentially worse as Winter arrives and the decisions between food, heating and rent are even more critical.
The contempt with which this Government holds the Country and its people is staggering.
Inflation is at its highest level for ages, there is the increase in NI, there are big increases in council tax expected, fuel has increased yet again, utilities are set to increase dramatically, as well as an increase in food costs.
At the same time they take back a grand a year from the poorest people.
All this is before they decide how they are going to get back off us the 400billion that they have borrowed to fund the pandemic.
I am sure they could have got the £20 per week back off universal credit claimants, by not increasing it for the foreseeable, rather than snatching the lot back now.
The government just hides behind the "wages are increasing" slogan.
Of course they are increasing if you compare them to last year.
Practically everyone was on furlough last year and receiving up to 80% of their wages.
All those that are back in work will be showing at least a 20% wage increase, and bigger earners will have much higher increases.
If there is one thing you can rely on this government it is bull sh1tting the public, or at least trying to.
The Prime Minister's Manchester Tory conference speech was packed with gags and almost devoid of new policies with only a cursory mention of the multiple crises gripping the country from the cost of living and petrol station queues to supply chain chaos and the potential slaughter of 150,000 pigs because of a lack of butchers. Millions are facing a financial squeeze because of inflation driven by labour shortages, rising energy costs, a lack of HGV drivers and gaps in global supply chains as it was revealed already hard-pressed already families face paying £1,700 more for energy by April and an extra £1,800 for other essentials by Christmas .Matthew Lesh of the Adam Smith Institute said: 'Boris' rhetoric was bombastic but vacuous and economically illiterate. Shortages and rising prices simply cannot be blustered away with rhetoric about migrants.' Mark Littlewood of the Institute of Economic Affairs, said: 'Unnecessarily restricting the supply of labour may lead to wage increases, but these will be passed on in price increases. A strategy to make things more expensive will not create a genuinely high wage economy, merely the illusion of one.' One critic who watched the speech said: 'Britain burns while Johnson fiddles'. As Mr Johnson told a bewitched audience of party members, MPs and minister of his vision for a 'high wage, high skilled, high productivity' economy, the price of wholesale gas surged by £1 a unit to 400p per therm - up 37% in a day and now 600 per cent higher than the start of 2021, making it inevitable that energy bills will soar for British households and companies in the coming months. And in more bad news, National Grid's chief executive John Pettigrew told the FT that Britain will face tighter electricity supplies this winter due to a lack of capacity in the system and a colder winter predicted, which means the cost of electricity will increase as gas prices spike to record high.
https://www.dailymail.co.uk/news/article-10063781/Britains-energy-crisis-deepens-gas-prices-soar-FIFTH-time-high.html
A Conservative politician has claimed newer MPs are being left in a 'desperately difficult' situation because of their £82,000-a-year pay packet. Tory stalwart Sir Peter Bottomley (pictured left) says he is not sure how MPs (pictured right: Library image of the House of Commons) 'manage' on the current salary - which is around £50,000-a-year higher than the UK average. The Worthing West MP, whose wife Virginia was also a Conservative politician, has called on MPs to be paid more than £100,000-a-year - bringing them in line with GPs. Speaking in the same week the Tory party removed the £20-a-week Covid uplift to Universal Credit - which works out around £6,100-a-year for a couple over 25 - he told the New Statesmen : 'I take the view that being an MP is the greatest honour you could have, but a general practitioner in politics ought to be paid roughly the same as a general practitioner in medicine.'
https://www.dailymail.co.uk/news/article-10066255/Tory-Sir-Peter-Bottomley-calls-MPs-paid-100-000-year.html
Rising inflation driven by labour shortages, growing energy costs, a lack of HGV drivers and gaps in global supply chains are contributing to the soaring energy prices Britons are experiencing.
https://www.dailymail.co.uk/news/article-10067089/Gas-bills-rise-500-year-Bleak-winter-fears-grow-energy-prices-soar.html
The Institute for Fiscal Studies (IFS), a think-tank, warned that under current Government spending plans, a rise of at least 3.6 per cent would be needed each year just to cover town hall services.
https://www.dailymail.co.uk/news/article-10067175/Now-Council-Tax-forecast-rocket-Homes-face-5-increases-three-years.html
The cost of some fixed-rate energy deals hit almost £3,000 yesterday as the British energy regulator Ofgem warned of a 'significant' increase in bills when the price cap is reviewed.
https://www.dailymail.co.uk/news/article-10074103/Fixed-rate-energy-deals-set-break-3-000-barrier.html