England home of big bills

[STEED]

What is the matter with us all in England, bills are going up and up and all we do is shrug are shoulder as to suggest what can you do. We should all kick up a real big stink, the way things are going we are all going to be in deep trouble. It's bad enough the consumers own over one trillion pounds, thanks to in part to this Labour Government suggesting spend your way out of recession.

U.K. gas consumers hit with big bills

Big News Network.com
Friday 28th July, 2006 (UPI)

Millions of natural gas users in Britain are groaning under skyrocketing prices that are rising at their fastest rates in half a century.

The Daily Telegraph, citing government data, reports that in the past year alone, the price of gas has shot up by more than a third or by about $262 a year for a standard home.

Meanwhile, British Gas, the country's largest supplier, plans to raise rates by 12.4 percent for gas and 9.4 percent for electricity for its more than 10 million customers beginning in September, the report said, adding the hike is the company's fifth since 2004. Similar hikes are expected from other energy companies, the Daily Telegraph said.

Economists warn such rising utility bills and gasoline prices combined with record levels of public debt could damage the economy, the report said.

This is a fairly significant squeeze on people's disposable income. People are already heavily indebted and unemployment is rising, one expert told the newspaper. Rises in the number of bankruptcies show that consumers are very sensitive to small shocks.

An Ernst & Young report says people have 10 percent less money for discretionary spending from five years ago.


http://www.britainnews.net/story/d440278ad9c363e2