UK households face biggest fall in living standards since 1950s, say experts

28 comments
  1. Got the lovely letter from Bulb, bill is going up by £70pcm. Home insurance already went up by 50%. Luckily we’re not too affected directly by petrol prices, but that’s up. Food prices are going up.

    Our CEO just announced there will be no pay review this year, so I am getting an effective pay cut. Guess that’ll keep the BoE’s Bailey happy.

    Not actively looking at the moment (other crap going on), but I will be if the company doesn’t change its stance. Market is crazy for developers like myself, even taking a demotion would see me get a double-digit percentage salary increase, although those positions tend to come with risk (startups).

  2. Brace yourselves for things getting a whole lot worse. 20% of the worlds grain comes from Ukraine and its used for more than just making bread.

  3. Hypothetically a shortage of workers leads to companies offering more, agreeing with unions pay increases and so on.

    In reality, no company director wants to be the one to tell the shareholders “I have just agreed with the unions that staff will be paid more and the company will make less profit as a result of my decisions.”

    Instead they are happy to let the companies output suffer and blame it all on the unions, this lets them avoid being fired as the shareholders can’t really argue that they want someone else who would agree to the unions demands and have them make less profit. But if the director agrees and the company declines they can be fired.

    Put another way company directors number one interest isn’t the success of the company, but their self preservation, as a result ensuring blame for not hitting growth targets doesn’t fall on them is the key goal, even if it means losing even more money than if they had just agreed a deal.

  4. I see a lot of suggestion this war will provide some respite for the govt. It won’t. The cost of living crisis is now set to explode and it’s the government who are deciding to throw a tax rise on top as well.

  5. April/May is going to be a very hard month for many with tax increase + council tax + heating bills.

    The only time I’ve seen this government even mention how hard it will be is to try and distract from partygate scandal. Where is the help given?

  6. Ah we finally made it back to the good old days. Just like the geriatric tory voters wanted. Time to start rationing food, water, heat and electricity…. actually most of us are already doing that.

  7. Im 21 ans genuinely scared i may be homeloess by next year, ive been barely covering bills since i was 16 and living alone…im so scared i might have to keep starving myself just to pay gas/electric on a flat that is a shithole. Lets not even talk about how my council tax is £96…barely getting by on the minimum wage and its only getting worse. Im getting paid the same amount of money in housekeeping as i did when i was a support worker for LD/mental health….

  8. And then I think about how I might have to live like this for another 50 years. Nobody caring, everyone out to underpay me and rob me blind. Won’t ever have the things some previous generations have. Will probably have to work into my 80’s as they put retirement age up.

    Is this living? What is there to look forward to?

  9. Well, it’s time to stop participating in society. Without any cash left to spare, we should all hit where it hurts. If we stop buying shit we are manipulated into thinking we need, companies’ profits will fall and those abject so-called rich people will put their best surprised pikachu faces on.

    Ffs we should all be on strike at the moment.

  10. Brexit voters must be giddy to finally be getting the outcome all the experts said would happen. Thanks, Brexit voters. Maybe we can all go out and bang a few pots and pans together, maybe get another grandad to walk around a garden.

  11. All of the giant Labour-driven steps forward post 1945 to create a better, fairer, more equal Britain – the NHS and better health in general, better education for all, better social security, social services, better working conditions – have long been a thorn in the side of the Conservatives. How dare these oiks have nice homes, good education and healthcare, holidays *abroad*, better diet and more leisure time? That’s not their place. So, since Thatcher, the Conservatives have made some really impressive progress in reversing all of those social changes – destroy the NHS, remove workers’ protections, bigger classrooms for the children of the poor etc.

    And new ways have been found to get that money out of the pockets of the ordinary people of the UK and back where it belongs (into the pockets of the ruling classes) – increasingly insane prices just to buy or even rent a roof over your head, increasingly insane prices to catch the train to work, increasingly insane prices for the basic utilities – water, electricity, gas.

    Ideally, we’ll soon be back to Regency period levels of inequality and poverty where all but a tiny few are only one missed paycheck away from hunger and homelessness.

  12. It’s going to be a shit show globally. It will be bad here but potentially catastrophic in the middle east and Africa if Ukrainian wheat is not available and when the prices for chemical feed-stocks used in fertilizers increase dramatically.

  13. Just got home from work, spent £1.54 a litre on diesel to get there and back, and came home to a message from the energy supplier saying their prices are going up ~50% across the board, standing charges, units, the lot.

    Fan fucking tastic.

  14. Don’t have to tell us what we already know. The government are to blame, they’re the ones that favours the rich, and letting it happen, in the name of greed.

  15. Because, you know, the russian-funded tories convinced everyone that leaving the EU was in russia’s….I mean, the UKs best interest.

    It wasn’t.

  16. The era of cheap energy is coming to an end.

    We’ve known this was coming as a society for decades, but chose not to wean ourselves off fossil fuels whilst they were readily available.

    We’ve used up most of the easy access supplies of fossil fuels, and are finding the remaining supplies are increasingly locked away behind difficult geopolitics.

    So much of the West’s response to Russia has been neutered by our dependence on them for their gas supplies.

    We need to prioritise going green, and build up Europe’s energy security for the future.

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