Fuel poverty is spreading around the UK
It has been reported that at least a further 1 million of the UK population have slipped into fuel poverty, which basically means that they spend more than ten percent of their income on gas, electricity, etc. This now brings the total figure up to a shocking 3.5 million and blows wide open the government's argument that they have been doing all that they can to assist the worse off in society. So what next?
This figure of 3.5 million in the UK, and growing, is a little surprising when you consider that the price of oil has fallen dramatically over the last few weeks. You may recall that when the price of oil was rising the energy companies were attaching themselves to the rise but when the price came down they went very quiet.
We have yet to see a like for like move downwards in fuel costs across the UK and while the authorities have suggested that they will look into this nothing has been done as yet. Indeed if the forecasts for the winter period are correct we could see the price of electricity and gas move markedly higher over the next few weeks and months.
Share this..
Related stories
UK pensioners struggling to cover energy costs
A report by the Institute for Fiscal Studies (IFS) has today revealed to what extent gas and electricity price rises are impacting upon the lives and financial well-being of the elderly in the UK. The report shows that between 2004 and 2007 pensioners in the UK saw their gas costs increase by 55% and electricity costs by 36% while reducing their own consumption by 10%. The report also reveals that...
Read MoreDo you really need your credit card?
In the midst of the current economic slowdown we should all be taking a closer look at our finances and seeing where we can cut back, where we can make adjustments to give us that little bit more room and save some money. One question we should possibly be asking ourselves is, do we really need a credit card for everyday use?
If as so many of us seem to suggest, we will be paying b...
Activists try to scupper Iceland compensation deal
The president of Iceland will this weekend try to head off a potentially embarrassing situation with a strong activist group looking to scupper this week's agreement to compensate British and Dutch savers caught up in the Icelandic financial collapse. The £3.4 billion deal will see the vast majority of the funds returned to governments in Britain and Holland, who were forced to pay out compensati...
Read MoreScottish construction industry under pressure
The Scottish construction industry is still under pressure with workloads in the public and the private sector falling marginally in the final quarter of 2009. However, while there are signs of increased activity in the early part of 2010 it is believed that the vast majority of this is from publicly funded projects introduced by the Scottish parliament. Many analysts and economists have accept...
Read MoreShoppers Desert The High Street For The Online Experience
Just when many retailers thought it could not get much worse it has been confirmed that 17p in every £1 spent in the UK retail market is now being spent online and this figure is only set to rise. An IMRG-Capgemini sales report has estimated that some £26.5 billion was spent on line in the first 6 months of this year, a rise of 38% on the same period in 2007.
While th...