Macroeconomics: UK economy, IB Economics
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Macroeconomics: UK economy, IB Economics
A brief overview of relevant articles for IB and A-Level all relating to the UK economy
Curated by Graham Watson
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UK households facing ‘fuel stress’ will treble to 6.3m – thinktank | Energy bills | The Guardian

UK households facing ‘fuel stress’ will treble to 6.3m – thinktank | Energy bills | The Guardian | Macroeconomics: UK economy, IB Economics | Scoop.it
Middle-income families will also find it hard to cope with new energy cap in April, says thinktank
Graham Watson's insight:

The Resolution Foundation's latest research suggests that the number of households experiencing fuel poverty - and spending 10% of their income on fuel - is set to triple in April, to 6.3m.

 

If correct, this represents a remarkable figure - and is perhaps indicative of the fact that the operation of energy markets is biased against the consumer in favour of energy suppliers and their shareholders. 

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The Guardian view on soaring energy bills: the less well-off need a new deal | Editorial | The Guardian

The Guardian view on soaring energy bills: the less well-off need a new deal | Editorial | The Guardian | Macroeconomics: UK economy, IB Economics | Scoop.it
Editorial: The government must act to protect those on limited incomes from unaffordable price rises
Graham Watson's insight:

Tomorrow's Guardian editorial is going to focus on the implications of rising fuel prices for the poorest in society, and argue that there's a need for government intervention to protect the most vulnerable.

 

What appears to be obvious is that the next few months are going to see a rise in fuel poverty, and the government really needs to decide how to plot a way forward and reset the market. With so many suppliers having left, there is limited to no competition at present, and in the longer-term that is likely to be damaging to consumer interests. 

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