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While today’s decision by the Bank of England MPC was literally a no brainer it does not help the thousands of home owners who are struggling to make ends meet. As we read another report from the...
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Wednesday 18th June 2008
A survey by the BBC has revealed what may turn out to be the final straw for Gordon Brown with experts predicting energy bills could rise by between 25% and 40% later in 2008, adding a further £400 a year to the average household energy bill. While the price of oil is the main reason for the expected rise, the energy companies are very reluctant to break ranks and be the first to pass the news to consumers. However, consumers should be ready for creeping rises from August, when many people do not even consider their winter energy bills, right through to the winter.
There is also concern that the government led support package for those who cannot afford their energy bills will see prices pushed higher for those able to pay. This will see more and more pressure on consumer budgets and the likelihood that all luxuries and non-essentials retail sales will begin to dry up. This in turn will have a knock on affect on the retail market, lead to further job cuts and more pressure on monthly budgets.
While Gordon Brown has survived a number of attempts to de-throne him from office, a scaled down winter of discontent may be more than the UK population can stomach after a hard battle to make ends meet. |
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