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2008 is looking tight

Every UK home to face 15pc energy price rise | Money | The Observer

A massive increase in gas and electricity bills for all of Britain's 24 million homes is to be announced by all the major energy companies in the next few weeks....

With rising food, petrol and borrowing costs eating into household budgets, there is a growing fear among economists that a leap in fuel bills will spark a consumer downturn which in turn could see layoffs in the retail and construction sectors....

Last week the Bank of England warned that one million home owners face a £1,000 'credit crunch tax' as the cost of borrowing rises after the US sub-prime mortgage disaster and the Northern Rock crisis.

Britons have £222bn of outstanding credit card bills as lenders refuse to pass on cheaper interest rates. The Citizens Advice service has already reported a sharp increase in inquiries from the public facing severe financial difficulties and it expects the situation to get worse this year

The government acknowledged there is little it can do...
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I bet the Bottler Brown wishes he had taken the chance in the autumn as he looks at this economic forecast.

Comments

Mr FM’s patent method for cutting the size of your fuel bills … pop another liberal in the woodburner

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