Nearly half of UK residents are struggling to pay bills and run a home. Bloomberg reports it. Inflation is at its highest point in four decades and a British think tank warns of a growing problem.
In November last year, 44% of British households were on energy rent or arrears. A 26 percent increase from January 2021, the Resolution Foundation concludes in a study.
The figures were culled from a YouGov poll of 10,470 Britons to show how rising costs of living are putting pressure on Britons left behind by the corona pandemic.
Rent increase
Private tenants are having a tough time in the UK. They are seeing the highest rent increases in a decade, with 8% of tenants late on rent payments. Furthermore, around 53% would find it very difficult to actually make payments.
Social tenants, however, fared even worse. Over 19% of social tenants are behind on their rent and 44% said they are having difficulty making ends meet. That is, electronic devices are not replaced or the heating is deliberately turned off.
Mutual
British mortgage holders have also faced an unprecedented series of interest rate hikes from the Bank of England. The UK central bank is likely to implement its tenth interest rate hike next week, taking interest rates to four percent overall.
Source: BNR
Sharon Rock is an author and journalist who writes for 24 News Globe. She has a passion for learning about different cultures and understanding the complexities of the world. With a talent for explaining complex global issues in an accessible and engaging way, Sharon has become a respected voice in the field of world news journalism.
