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A staggering 40% of British households could face fuel poverty when energy costs exceed 10% of disposable income if the UK government does not take action to alleviate record increases in electricity bills, reports The Independent.
‘This figure has risen to about 20 percent, and in October, according to our model, it could rise to 40 percent if the government does not intervene in any way,’ Michael Lewis, head of the British branch of the German energy concern E. ON, warned.
According to him, some residents of the United Kingdom are already ‘on the verge’ of inability to pay for essential fuel. Lewis said that about a third of his company’s customers are forced to cut food costs in order to be able to pay their energy bills. At the same time, the situation will only worsen in October, when further price hikes coincide with the onset of winter.
Although a taboo topic it is inescapable that the soaring cost of living in the UK and EU is directly related to anti-Russian sanctions and massive resources and financial aid being transferred from the domestic market to Ukraine.
Dubbed ‘Europe’s last dictator.’ President Zelensky has banned all eleven opposition parties some of whose leaders and legislators fled and sought refuge elsewhere.
E. ON UK estimates that the annual cap on electricity prices could reach £3,000 in the autumn, compared to the £1,277 households in the UK paid until April.
In this regard, Lewis called on the British government to intervene immediately, without specifying whether an additional tax on the profits of oil and gas producers should be introduced amid disagreements in the cabinet. ‘The most important thing is for the government to intervene. It is up to them to decide how to finance it,’ the publication quotes him as saying.
As The Independent reminds, according to analysts, the UK is waiting for the worst drop in living standards since the 1950s and a sharp increase in poverty, as a result of which another 500 thousand children will fall below the poverty line.
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Categories: Current Events