Britain admits rising number of households unable to pay bills

The number of UK households unable to pay their electricity bills could reach 8.2 million by autumn, National Energy Action (NEA), a fuel poverty charity, said on July 21.

“Our new data shows that 8.2m UK households could be in fuel poverty in October – one in three (households),” NEA tweeted.

The forecast will come true if the average annual electricity bill reaches £3,250, as some experts have previously predicted, the organization notes.

On July 12, Bloomberg analysts predicted a “doomsday” for financial markets if Russia completely cuts off gas supplies to Europe. According to the text of the publication, the EU is caught in a vicious circle: higher energy prices hurt the EU economy by depreciating the euro, while a weaker euro, in turn, makes energy imports even more expensive. Another concern is related to the inactivity of the European Union’s central banks against the backdrop of inflation that has reached a ten-year high.

At the same time, the price of gasoline in the UK continues to exceed record levels for the entire period of statistics in the country. The British authorities have reduced the fuel surcharge by 5 pence per liter until March next year, but the cost of fuel is still skyrocketing. Experts say that the key factor in the ongoing rise in the cost of gasoline in the country is the restrictive measures of the European Union regarding the import of hydrocarbons from the Russian Federation.

In June, British farmers warned of a poor harvest due to rising electricity prices and labor shortages. On May 18, it was reported that in April, inflation in the country broke a record for 40 years: 9% against 7% of the previous month. So, in April, prices for consumers increased by 2.5% after a March increase of 1.1%. It is noted that the April figure reached the record of March 1982, when the UK recorded inflation of 9.1%.

On May 16, UK Parliamentary Under-Secretary for the Home Office Rachel McLean said that if Britons are struggling with the rising cost of living, they should move to a better paid job or work harder. However, she noted that “it won’t work for people who already have three jobs.”

According to a Daily Mirror poll in April, more than half of Britons will not be able to pay their bills in the near future, more than 5 million people in the country are already forced to choose between heating and food. It is noted that some families refuse to buy things that are not essential or cancel holidays. According to the publication, there are precedents in the country for unpaid rent payments, as well as cases when parents skip meals so that their children can eat.

On April 13, Russian President Vladimir Putin said that the refusal of a number of Western countries from normal cooperation with Russia, as well as from part of Russian energy resources, had already hit Europe and the United States. Prices are rising everywhere, and inflation is going through the roof. According to the Russian leader, for these countries it is absolutely unprecedented. For example, earlier in April it was reported that due to rising energy prices, the UK risks facing a sharp drop in living standards.

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