British energy costs are expected to skyrocket

Union organization warns that they will cost Britons more than two months' worth of earnings in 2019.



According to a new analysis released by the Trades Union Congress (TUC) on Friday, energy costs in the UK are predicted to cost more than two months of the typical take-home pay in 2023.


Based on projections from the Bank of England, the TUC estimates that the average monthly take-home income (after taxes) will be £2,054 by 2023. Therefore, two months' wages will be less than the estimated cost of energy bills per home in 2023 of £4,108 ($5,000), which is £4,200 ($5,100).


The most recent prediction, made by independent energy consultancy Auxilione in the UK, is even more pessimistic: it projects that energy costs will reach £5,000 (almost $6,100) in 2019.


The union body described the cost-of-living situation this winter as an "emergency of pandemic proportions" and demanded severalemphasizedrealize actions to halt it. The suggested actions include scrapping the October energy price cap increase, moving the national minimum wage increase from next April to this October, and supporting public sector employee pay increases that maintain pace with inflation.


In one of the greatest nations in the world, no one should have to struggle to make ends meet, according to Frances O'Grady, general secretary of the TUC. However, she continued, "Up and down the country, millions of people are being driven to the brink by eyewatering energy costs. It's time to say enough is enough because prices are expected to soar even higher.


Furthermore, she emphasizedrealize that "Boris Johnson, Liz Truss, and Rishi Sunak need to realize the gravity of this situation. A pandemic-scale intervention is necessary for this.


The union body predicted that the UK would experience the steepest real wages decline in a century in a previous report on Thursday. By the end of the year, living standards are predicted to plummet by an astounding 7.75% as pay rises fall behind inflation.


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