UK households have paid an average of £13,961 extra on bills since 2021, according to Trades Union Congress analysis of official figures. The union body says the added cost works out at £2,792 a year across mortgages, loans, energy and water bills.
The TUC is urging Chancellor John Healey to address living costs in his 28 October budget. It says households are cutting back on spending, weighing on the economy, and that UK consumer spending has grown more slowly than in any other G7 country since before the pandemic.
Healey has pledged to give households more financial room in the budget, while warning that the government has limited resources to cushion the impact of global economic pressures. The Treasury has been preparing a narrowly focused budget amid concerns about how financial markets might react to large tax or spending measures.
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