Household bills and housing costs top family expenditure list
11/12/2013
This means that the cost of living at home has now overtaken that of travelling; with families now spending an average of £68 per week on essential household bills.
Official figures from the Office for National Statistics (ONS) reveal the extent to which the cost of living has risen for families, with the amount of income spent on fuel and power up 8% from 2008 alone.
There is also a sizeable difference between the Family Spend figures for the north and the south, with those in London spending a weekly average of £571.60 compared to the £408.70 spent by those in the north-east.
However the ONS has also said that, once inflation is taken into account, households are spending less each week than they were in 2006.
The cost-of-living crisis has caused much political debate recently, with Labour shadow chancellor Ed Balls claiming that chancellor George Osborne is “in denial” over the effects of increasing inflation and largely stagnant wages within the UK.
Shadow energy secretary, Caroline Flint had this to say: “These figures reveal the full scale of the cost-of-living crisis facing households in Britain. Soaring energy bills are one of the main reasons people are finding it harder and harder to make ends meet, but David Cameron has failed to stand up to the energy companies and stop them overcharging.
“This shows why Labour’s energy price freeze is needed. Labour’s price freeze would save money for 27m households and 2.4m businesses and our plans to reset the market will deliver fairer prices in the future”.
Share this..
Related stories
Are consumers being targeted by the government's pollution taxes?
As we covered in one of our recent articles there are grave concerns that UK power companies could be forced to increase costs substantially as the government look to reduce pollution into the atmosphere and introduce greener power. There are many forecasts about the potential impact this will have for the consumer and the general consensus seems to be increases in power costs to the tune of £200...
Read MoreOvertime payments reduced as recession bites
The TUC has revealed that the amount of overtime paid this year has fallen by £1 billion to £10 million in what many believe is a sign of the recession. However, this is not your stereotypical sign of a recession because the TUC believes that more and more people feel "obligated" to give up their own private time to their work - unpaid. While it is impossible to confirm or deny the TUC report...
Read MoreSouthern Water introduces seasonal tariff
Southern Water has today set a new precedent for the water sector after announcing the introduction of a "seasonal tariff" which will see customers charged more in the summertime than for the rest of the year. Customers will pay 6% more on their standard rate for water between June and September and 2% less for the rest of the year in a move which is certain to unnerve consumers and businesses....
Read MoreUK government's renewable energy targets come under severe pressure
The recent announcement of ambitious renewable energy targets for the UK has seen the government under serious pressure after trying to exclude aviation from the equation. It is common knowledge that the aviation industry is one of the largest polluters of the environment and taking this element out of the equation is a very strange move.
As you may expect, the announcement of the g...
Broadband switchers have 'so much to gain'
Consumers encountering difficulties in switching broadband provider have been urged to persist with the process despite widely reported delays. The trials experienced by switchers were highlighted in a study from price comparison site uSwitch, which examined how speedily providers supplied the special code required by consumers who wish to leave their existing broadband company. Regulations curren...
Read More