UK hit by news of record high inflation
Bianca Rahimi
Press TV, London
Come April, many Britons will have to choose between heating and eating. Everything from bus fares to mortgages are going to cost more. Interest rates have gone up twice in seven weeks and 3 more hikes are on the horizon, as the central bank tries to tackle the situation. Meanwhile members of parliament are livid, saying the government is incompetent.
This week millions learned that their gas and electricity bills are going to jump 54 percent. The government says there's nothing it can do, with energy prices going up worldwide.
Also causing inflation to rise is supply chain issues, higher import taxes and wages increasing. Brexit, the pandemic and a global energy crisis a perfect storm for Britain now in the grips of its worst economic slump in 300 years. But who will pick up the bill?
On the first of April costs of living will go up around 3000 pounds a household. On the same day British politicians will get a 2,000-pound pay rise. So it’s clear, those on the top of the pile have their bills covered and it will be those already on the breadline that will pick up the bill.
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