British households are facing serious costs due to rising inflation, the energy crisis and a planned increase in the national security tax, experts from the Resolution Foundation (RF), an independent think tank, told Sky News.
According to experts, the maximum price of fuel in the country will increase by 500 pounds a year, and the bankruptcy of energy companies will add another hundred pounds to consumer bills.
The additional tax burden will take from the inhabitants of the kingdom 600 pounds more. Such disproportionate costs will hit low-income families, who spend most of their money on their electricity bills, the article said.
According to RF experts, wage growth is not in line with inflation. By the end of 2022, the average salary will be only 0.1 percent higher than the current one. At the same time, the consumer price index in the UK rose to 5.1% in November and 4.2% in October.
Brain Trust CEO Thorsten Bell is convinced that food, goods and services will continue to rise amid stagnant incomes. The decline in purchasing power will be so catastrophic, he said, that the government is unlikely to be able to avoid intervening to overcome the crisis.
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