Tag: average
Energy price cap falls – but average household bills still expected to rise
Energy bills will rise by around £500 for average family from April – despite prices falling
ENERGY bills will rise by around £500 for the average family from April – despite prices falling.
Experts predict that Ofgem will today reveal a fall in their maximum price cap by around £1,000 to £3,295 as wholesale prices collapse.
Energy bills will rise by around £500 for the average family from April – despite prices falling[/caption]
But ministers’ cap for families is still set to rise from £2,500 to £3,000 as they try to wean Brits off state support and slash the ballooning bill for the state.
Last night Jeremy Hunt faced growing calls to smooth the rise in bills as prices are set to tumble even further later this year.
Torsten Bell of the Resolution Foundation think tank said: “The Ofgem price cap will confirm that the cost of the government’s energy support scheme next year will be 90 per cent lower than originally thought.
“That’s good news for the Chancellor – and in the long run British families, but in the short run households face a 20 per cent spike in their energy bills this April unless the chancellor uses his extra savings to keep everyone’s energy bills down.”
Cornwall Insight predict the price cap is set to fall from the current level of £4,279 per year for the average household from April.
And they think it will fall even further to £2,153 in July, and £2,161 in October – meaning ministers will effectively stop subsidizing Brits’ bills in just a few months’ time.
Meanwhile, the Lib Dems today urge ministers to cancel the planned April hike and bring in a one-off “bonanza bonus” tax on oil and gas bosses raking in extra cash.
They demand a bankers-bonus style raid on top profits after executives take home millions in bonuses and benefits.
Lib Dem chief Ed Davey said: “Rishi Sunak must act now to save families from a cost-of-living cliff edge, by cutting energy bills instead of increasing them.”
Average apartment size in U.S. sees largest decline in 2022
Families would be average of ‘£600 better off’ if Britain built more houses
FAMILIES would be an average of £600 better off if Britain builds more houses, Rishi Sunak has been told.
Former Housing Minister Brandon Lewis today came out swinging against politicians who hate new homes.
Families would be an average of £600 better off if Britain built more houses[/caption]
In the midst of a chronic housing shortage, he urged town halls to let developers build so increased supply can drag prices down.
Mr Lewis said if 400,000 more homes were built every year, the economy would grow by £17.7bn – an increase of £600 in GDP per household.
And at least an extra 250,000 families at least would finally be able to buy a house per year, with landlords, movers and second home owners filling the rest.
In a new report for Policy Exchange the ex-minister also argued for a major expansion of social housing and for councils to be more upfront about what developers must do to secure planning approval.
The average UK house currently costs an eye-watering nine times average earnings.
It’s the worst prices have been since 1876.
Last year Housing Secretary Michael Gove watered down mandatory building targets after caving to NIMBY MPs.
Mr Lewis said: “To fulfil our country’s great potential, we must give young people cause to believe that, like their parents, securing a good job will enable them to buy a home of their own, and to settling down and have children.
“These ambitions depend on us delivering more homes. Addressing the UK’s housing shortage is a huge challenge, perhaps the greatest that we face as a country.
“At the same time, though, solving the crisis holds out the dual prospect of placing rocket boosters under our economy and selling a new generation on the British dream of homeownership.”
Average house price in the UK goes up by just £14 in a month
Delta just made employees feel like average customers and they really don’t like it
These stocks are valued at half the FTSE 100 index average!
Dr James Fox explores several FTSE 100 stocks that trade at considerable discounts versus the index average, using the P/E metric.
The post These stocks are valued at half the FTSE 100 index average! appeared first on The Motley Fool UK.
Average Brit Reducing Weekly Budget By A Third As Cost Of Living Crisis Deepens
Takeaways, clothes and holidays are the luxuries people plan to cut back on as the cost of living crisis continues…
The post Average Brit Reducing Weekly Budget By A Third As Cost Of Living Crisis Deepens appeared first on TechRound.
4 high-yield stocks that are double the FTSE 100 average
Jon Smith identifies several high-yield stocks that do carry risk, but also the potential for some lucrative income for his portfolio.
The post 4 high-yield stocks that are double the FTSE 100 average appeared first on The Motley Fool UK.