Cost of living crisis

RAC warns motorists fuel prices will ‘inevitably’ soar due to OPEC + decision to cut oil production

Britons already facing a cost of living crisis with increased energy and food bills are now being warned to brace for soaring fuel prices because of a major cut in oil exports. Some of the world’s top oil-producing countries have agreed to cut the amount they export to Western nations in a bid to stabilize …

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National Grid in urgent bid to import more gas – after exporting record amount

National Grid is racing to bolster gas reserves ahead of winter, amid concerns Britain will not be able to import enough from Europe as Russia’s war in Ukraine rattles markets. Bosses have put out a tender for extra gas to help manage any short-term disruption, as cuts to Russian supplies to the continent raise concerns …

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Cost of living crisis sees an ‘apocalyptic’ rise in items like Heinz Beans and Andrex loo rolls

Hard-pressed families struggling with the cost of living crisis are facing an ‘apocalyptic’ rise in grocery prices which is forcing desperate Britons to turn to food banks to survive. As millions continue to be stung in the pocket by soaring heating and fuel prices, figures compiled by MailOnline have revealed how the ballooning costs of …

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How painful trade-offs led Britain to squander its North Sea oil bonanza

The 400pc increase in oil prices in 1973 and 1974 also led to major changes in how the North Sea was taxed. Under Harold Wilson’s administration, the Petroleum Revenue Tax (PRT) was introduced in 1975 along with a complex set of allowances designed to capture a high share of any profits, plus encouragement to develop …

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What is inflation? Finance expert shares five things everyone should do as cost of living rises

A personal finance expert has listed five smart financial strategies everyone should be doing as interest rates and the cost of living continue to rise. Melissa Brownefounder of My Financial Adulting Plan, encourages others to become financially literate to reach personal money goals by saving for an emergency fund, thinking long-term, diversifying investments and living …

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Households are sent letters warning E. On energy bills will rise from £ 180 to £ 458

Energy firms are sending households notice of the vastly higher direct debits they will pay within days – despite the Government’s price freeze – as Liz Truss insisted soaring energy bills are a ‘price worth paying’ to combat Vladimir Putin. E.On customers were among those to raise a flurry of complaints on social media on …

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Cost of living rate rise: Packed lunches cost rises by 70 per cent

The cost of children’s packed lunches has risen by 70 per cent in 18 months as the cost of living crisis continues to punish hard-hit families. Everyday items used to make children’s lunches, including bread, ham, cheese, tomatoes, biscuit, apples, yoghurt and crisps have soared in price in the past year. According to research by …

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Tom Kerridge reveals 700% increase in cost of electricity at his pub as Fuller’s faces £ 10m hike

Top chef Tom Kerridge (pictured) has revealed his despair at facing a near 700 per cent surge in electricity costs Celebrity chef Tom Kerridge has revealed his despair at facing a near 700 per cent surge in electricity costs for one of his pubs, as Fuller’s says it faces a hike from £ 8million to …

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