UK energy prices show sharpest rise in Europe
It has been revealed that UK energy prices have risen more than double that of any other European country over the last 12 months. This is yet another blow to the UK consumer who has seen prices continue to rise even though the underlying price of oil has fallen sharply over the last few weeks. There are grave concerns that with Christmas approaching many people will be forced to reduce their heating expenditure at a time when it has never been more vital.
Even though the UK government has promised time and time again that they will do what they can to ensure that consumers are not literally taken to the cleaners we have yet to see any real results on this front. The fact that costs associated with the UK market have risen at a rate double that of any other European country is a major concern for many consumer groups. Quite what the government will do in the short term is debatable as false promises have been delivered time and time again with no end result.
Unless the authorities are very careful there will be a major backlash when the next general election is announced.
Share this..
Related stories
Unemployment starts to pick up
News of an increase of 32,500 people claiming unemployment benefit in August pushed the UK figure to 904,900 and was not well received by the market. The figure is expected to break the 1,000,000 barrier prior to the end of 2008 and it looks as though 2009 will not start off much better.
However, the wider unemployment rate is substantially higher with 1.72 million people in the...
Bradford & Bingley announces a £71 million pre-tax loss
Bradford & Bingley, which was effectively bailed out by the UK government and split into two, has today reported pre-tax losses of £71 million for 2009, which is actually better than originally forecast when the company was taken over by the government. This compares favourably to a loss of £278 million in 2008 although there are concerns going forward regarding the quality of the loan book and...
Read MoreKodak Pension Plan Members to receive reduced Benefits
Members of the Kodak Pension Plan (KPP), of which there are thought to be 15,000, will receive reduced pension benefits after Kodak’s parent company, Eastman Kodak, was declared bankrupt. KPP was forced to pay £419m to buy the business and in doing so save the company from closure. KPP now owns the companies entire film business, which consists of hundreds of thousands of photo kiosks w...
Read MoreWill the services sector lead the UK economy out of recession?
Despite news yesterday that the construction industry has contracted for the 22nd month in a row, today we saw news that the services industry in the UK has reported growth for the eighth month in a row. While these conflicting economic indicators are obviously causing unrest and uncertainty within investment markets, there is no doubt that the services industry is the most vital element of the UK...
Read MoreHouse Prices Close in on 2007 Peak
The Nationwide has today reported that house prices are now getting close to the peak of 2007, after the average property price jumped 6pc in the last month. The figure now stands at £177,846, which is 9.4pc higher than in February 2013, showing signs of aggressive growth. This data has been derived from the Nationwide’s own House Price Index, and is based around mortgages that have been...
Read More