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UK consumers are gearing up for a grim April. Because on April 1, daily costs for many people will increase significantly. From Saturday, cell phone and internet bills will be more expensive, as well as water, postage stamps, some prescription drugs, and council and car taxes. The Daily Mail wrote that the average family would have to pay an additional £680 a year and spoke of “the most brutal livelihood crisis” since the 1950s.
Due to inflation, groceries are now costing much more than they did a few months ago. When it comes to energy costs, the government continues to cap prices for each unit of gas or electricity. However, the state support, which was previously 67 lira per month, is being phased out. In addition, many property owners are complaining about the sharp rise in mortgage interest rates as a result of short-term Prime Minister Liz Truss’ economic policy.
Emily Seymour, of the consumer rights organization Which, said millions of people are unable to pay their bills each month. Newspaper. “Now that the new wave of price increases is in effect, it is more important than ever that the government and large companies such as telecommunications and energy companies do everything they can to support consumers and provide clear information on what support is available.”
Companies also complain about additional costs. Government support for bars and companies is largely disappearing. Alex Veitch of the BCC Association of Chambers of Commerce warned that nearly half of the member companies surveyed will have difficulty paying their bills in the future. He also touched on a significant increase in corporate tax from 19 percent to 25 percent, an increase in the minimum wage, and changes in the trade tax.
The rise in corporate taxes also caused fear in the right wing of the ruling Conservatives. Conservatives have always seen themselves as tax cuters: Since taking office in 2010, they’ve steadily lowered the rate from 28 percent at the time to attract investment. Experts were more relaxed. It was stated that the UK still offers an advantageous tax rate of 25 percent in international comparison. The government has said the generous investment cuts will save companies a total of £27bn over the next three years.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
