The cost of living crisis deepened yesterday as energy prices soared by 15%, adding to the pressure on household budgets. The increase will see the average household pay an extra £693 per year.
Despite this, the UK government's energy price cap is still below the wholesale price of gas and electricity, leaving many households facing high bills. To mitigate the impact, the government has introduced several support schemes, including a £1,200 cost-of-living payment for low-income households and a 5% reduction in VAT on energy bills.
However, critics argue that these measures do not go far enough to address the crisis. 'We need to see more substantial action from the government to help struggling households,' said a leading charity spokesperson.
The cost of living crisis is having a disproportionate impact on vulnerable groups, including low-income families and pensioners. As energy prices continue to rise, it is essential that the UK government takes swift and decisive action to protect these households.