{"id":61981,"date":"2022-02-23T07:49:02","date_gmt":"2022-02-23T12:49:02","guid":{"rendered":"https:\/\/olduvai.ca\/?p=61981"},"modified":"2022-02-23T07:49:02","modified_gmt":"2022-02-23T12:49:02","slug":"uk-households-struggle-as-inflation-hits-30-year-high-new-taxes-kick-in","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=61981","title":{"rendered":"UK Households Struggle As Inflation Hits 30-Year High, New Taxes Kick In"},"content":{"rendered":"<header class=\"ArticleFull_header__Eyn7V\">\n<h3 class=\"ArticleFull_title__MEgbb\"><a href=\"https:\/\/www.zerohedge.com\/economics\/uk-households-struggle-inflation-hits-30-year-high-new-taxes-kick\">UK Households Struggle As Inflation Hits 30-Year High, New Taxes Kick In<\/a><\/h3>\n<\/header>\n<div class=\"NodeContent_mainContent__t4rGu\">\n<div class=\"NodeContent_body__6iJOI NodeBody_container__hI8PI\">\n<p>Millions of Britons who previously found themselves financially &#8216;comfortable&#8217;\u00a0<strong>are feeling the heat\u00a0<\/strong><strong>over accelerating inflation, record energy bills, and tax increases\u00a0<\/strong>which kick in this year.<\/p>\n<figure class=\"caption caption-img inline-images image-style-inline-images\" role=\"group\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/assets.zerohedge.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/https%20_d1e00ek4ebabms.cloudfront.net_production_3fc20974-ac4f-4d72-b92f-3164933742db1.jpg?itok=k6_fqeqI\" alt=\"\" width=\"500\" height=\"281\" data-entity-type=\"file\" data-entity-uuid=\"257d66d0-4b06-41b8-a13d-eee95198d01f\" data-responsive-image-style=\"inline_images\" \/><figcaption><em>A food bank for military veterans in Newcastle-under-Lyme, England. The Food Foundation survey found that 16% of people surveyed cut back on food to afford other essentials \u00a9 Nathan Stirk\/Getty<\/em><\/figcaption><\/figure>\n<p>According to the\u00a0<em>Bank of England<\/em>, scorching inflation will result in the\u00a0<strong>largest drop in disposable income in 30 years<\/strong>\u00a0when adjusted for inflation.<\/p>\n<div class=\"AdvertisingSlot_desktop__lDlm4 AdvertisingSlot_tablet__MndqJ AdvertisingSlot_mobile__7vsEF AdvertisingSlot_placement__b8TLC AdvertisingSlot_align__800B1\">\n<aside id=\"in-content-video\" class=\"AdvertisingSlot_verticallySpaced__MBqFK\" data-google-query-id=\"CI2R1uftlfYCFceynwodztYFTw\">\n<div id=\"google_ads_iframe_\/21841313772,21778456762\/zerohedge\/in_content_video_0__container__\"><\/div>\n<\/aside>\n<\/div>\n<p><strong>In April, UK energy bills are due to jump 54% to around 2,000 pounds\u00a0<\/strong>($2,723) a year per household. While some of it will be offset by emergency government support &#8211; and social security will also increase,\u00a0<strong>it will be against the backdrop of rising interest rates<\/strong>\u00a0according to\u00a0<a href=\"https:\/\/www.reuters.com\/world\/uk\/inflation-hits-30-year-high-uk-households-start-buckle-2022-02-22\/\"><em>Reuters<\/em><\/a>.<\/p>\n<p>&#8220;There&#8217;s just too much going up at once,&#8221; said 38-yaer-old care worker Nicola Frape, who huddles under blankets with her 14-year-old daughter to conserve heat, and have limited roadtrips due to the price of gas. &#8220;The pressure is just going to be even worse in April,&#8221; she added.<\/p>\n<blockquote>\n<p class=\"Text__text___2vZwzq Text__dark-grey___1T5z1- Text__regular___3orWU3 Text__large___1NuIuP Body__base___3K85eE Body__large_body___1_XkH1 article-body__element___vulnXJ\" data-testid=\"paragraph-9\"><em>With economies around the world rebounding from coronavirus lockdowns,\u00a0<strong>prices for everything from food and clothes to haircuts and rent, as well as energy are going up<\/strong>, fuelled by resurgent demand and shortages due to supply chain disruptions.<\/em><\/p>\n<p class=\"Text__text___2vZwzq Text__dark-grey___1T5z1- Text__regular___3orWU3 Text__large___1NuIuP Body__base___3K85eE Body__large_body___1_XkH1 article-body__element___vulnXJ\" data-testid=\"paragraph-10\"><em>Accurate national comparisons of changes in living standards are hard to make but concerns about inflation are emerging as a big factor in elections including France&#8217;s presidential race in April and U.S. midterm elections in November. -Reuters<\/em><\/p>\n<\/blockquote>\n<p>A February survey found that the number of people experiencing food insecurity was 20% higher in January than the previous six months, according to\u00a0<a href=\"https:\/\/www.ft.com\/content\/eb1998ce-9bc0-4839-a95a-c10641f9ffcc\"><em>FT<\/em><\/a>.<\/p>\n<p><em>The decline in living standards for much of the UK population prompted chancellor Rishi Sunak last week to announce a \u00a39bn package to help struggling households.<\/em><\/p>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>UK Households Struggle As Inflation Hits 30-Year High, New Taxes Kick In Millions of Britons who previously found themselves financially &#8216;comfortable&#8217;\u00a0are feeling the heat\u00a0over accelerating inflation, record energy bills, and tax increases\u00a0which kick in this year. A food bank for military veterans in Newcastle-under-Lyme, England. The Food Foundation survey found that 16% of people surveyed [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[426,13351,31091,820,2080,4318],"class_list":["post-61981","post","type-post","status-publish","format-standard","hentry","category-economics","tag-inflation","tag-price-inflation","tag-supply-chain-disruptions","tag-uk","tag-united-kingdom","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61981","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=61981"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61981\/revisions"}],"predecessor-version":[{"id":61982,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/61981\/revisions\/61982"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=61981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=61981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=61981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}