Friday 6 August 2021

Chaos come Christmas?

I've just read the following article:

Millions of Great Britain homes face highest energy bills in a decade as cap lifted

 Article says:

The sudden rise in energy bills has raised concern among fuel poverty campaigners that more than half a million more people may be unable to pay their energy bills as a result of the rise, which will coincide with the winding down of the government’s furlough scheme and the cut to universal credit from September.

Energy prices have already gone up an eye watering amount over the past year (For me, about a £200 increase, from £800 to a £1000 i.e. 25% increase). And they're going to increase by another utterly huge comparable amount come October! With the £20 a week decrease in Universal credit hitting at the same time, it's going to be absolute chaos for many poor people come November/December.

My prediction? Tune into the news November and December and I reckon the news will be filled about those not being able to make ends meet. More people having to use food banks than ever before, a huge outcry about the £20 a week Universal credit decrease etc.  Not to mention that this will happen near Christmas.



29th December 2021 Edited to add:

Almost 5 months later and I haven't really heard much about peoples dire financial problems. Perhaps the news outlets are more or less ignoring this issue?  Having said that, the article below predicts that people will face a financial catastrophe next year:

Cost-of-living ‘catastrophe’ looms in 2022

I think people might just be borrowing money and delaying the pain. Also, as regards the monumental energy price increase (maybe about 50% increase for those whose energy suppliers went under) I still haven't received a bill for what I owe, which will be around £200 (I normally pay in advance). But, yes, next year might be very grim for many people.

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