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One in four UK households will be unable to pay their energy and food bills despite the economy narrowly escaping a recession in 2023, a leading think tank predicts https://t.co/mPcSjJDyId
— Bloomberg (@business) February 8, 2023
The important thing to remember here is that you are not suffering for nothing.
Your permanent reduction in quality of life is happening so that people in the Donbass can have democracy forced on them against their will.
By democracy, of course we mean “gay sex with children.”
So buck up, bucko.
You are only suffering for the rest of your life, and your children will only suffer, so that something wonderful can happen to an extremely important group of people in eastern Ukraine.
RT:
UK households are suffering a “permanent” decline in living standards as wages lag behind double-digit inflation and families struggle to pay their bills, the National Institute of Economic and Social Research (NIESR) has warned.
According to a forecast by the UK’s oldest independent economic research institute released on Wednesday, 7 million households, which is the equivalent of one in four, will be unable to cover their energy and food bills once the government starts scaling back its subsidies program in April.
Energy prices remain high, while inflation is running above 10%, more than five times the Bank of England’s 2% target. NIESR said the target will not be reached until the second half of 2025.
Grocery inflation alone soared to a new record of 16.7% in the four weeks of January, taking the average annual food shopping bill in the UK to £5,504 ($6,781), up £788 ($974) from last year, according to the latest research by Kantar.
NIESR economists warn that middle-income households will be hit hardest by the cost-of-living crisis. While the poorest families receive additional state aid, the middle classes will face a decline of between 7% and 13% in their disposable income, or as much as £4,000 ($4,800).
Remember: don’t complain, or we’ll put you in jail.
