The Newshound

Middle-class families face a £500 rise in annual bills next year despite the PM's cost-of-living pledge, think tank warns

Middle-class households face a projected £495.33 rise in annual bills in 2027, driven partly by a forecast 21 per cent surge in the energy price cap to £2,084.
Middle-class households face a projected £495.33 rise in annual bills in 2027, driven partly by a forecast 21 per cent surge in the energy price cap to £2,084.

According to the Adam Smith Institute, gas and electricity will push up the average household's annual costs by £206.50 in 2027. Food prices are set to climb by £112.19, fuel by £140.64 and water by £36, bringing the projected total to £495.33. The energy price cap is forecast to surge 21 per cent to £2,084 in the new year. A Bank of England rate rise is anticipated next month, which would heap further strain on mortgage holders.

John Healey's first Budget as Chancellor, due within days, is expected to help lower-income families.

Silvia Andreoletti of the Adam Smith Institute: 'No matter what's in the Budget' families face a squeeze.

Burnham has asked whether axing standing charges on gas bills is 'feasible'.

MoreDaily MailFamilies face £500 surge in cost of living next yearThe TelegraphMiddle-class families faces £500 hit to cost of living despite PM’s pledgeThis Is MoneyMiddle-class families set for an extra £500 hit to annual bills next year
Read today's full feed at The Newshound →