The cost of living has been increasing across the UK, with inflation hitting double digits for the first time since 1982. The war in Ukraine has led to soaring Energy bills and food prices. Oil and gas demand increased after Covid-19 restrictions were lifted. But the invasion of Ukraine meant that less oil was available from Russia.
UK leadership has been up to its ears with the huge burden of getting the country back on track. Liz Truss took over from Boris Johnson but was unable to carry out the difficult task. The decisions made by Truss and Chancellor of the exchequer Kwasi Kwarteng came under immense criticism with, Kwarteng’s mini budget proving to be a disaster.
The pressure became too much, and he was left with no option but to resign from his position as chancellor after the Prime Minister asked him to step down. He was then replaced by Jeremy Hunt. But Kwarteng’s departure did not end the Prime Minister’s woes, who was also blamed for the country’s financial turmoil.
This led to Truss also stepping down from her position after just 44 days, making her the shortest- serving Prime Minister in the country’s history. In her statement, Liz Truss said, “I cannot deliver the mandate on which I was elected on.” The decision was widely welcomed, with lack of confidence in Liz’s ability to pull the country out of crisis.
Former Chancellor Rishi Sunak was chosen as the new Conservative Party Leader and Prime Minister. Questions were raised by some quarters and Labour supporters in particular, as to why a general election was not called, which would have been a democratic and fairer option, as opposed to having yet another Prime Minister that has not been voted in by the general public.
But the bottom line is the UK now has a new Prime Minister that has a mammoth task ahead to fix the economic crisis that is throwing so many people into despair. In a report by Channel 4 news, data from the Office for National Statistics (ONS) revealed that even the most basic supermarket items have increased by nearly two thirds in a just a year. Shops are also reporting a rise in the number of shoplifting incidents, often for essential items. This is alarming and clearly highlights the desperation faced by people that are struggling in the current crisis.
The soaring energy bills have also means that many households will not be turning on the heat. The cold winter months will be difficult, in particular for those that are vulnerable, such as the elderly, and households with young children. People are simply too afraid of receiving high energy bills which they cannot afford to pay and would rather keep the heating off. And it is not just people on low income that are feeling the rise in energy bills. Even higher earners are feeling the burden of high bills.
The rise in the cost of living has also led to a demand for food banks across the country. There was a surge in food bank use during the peak of the pandemic, and once again people are relying on them. But charities are reporting a struggle to keep up with demands due to a drop in donations. There are different factors that lead to individuals and families to rely on food banks. But difficult times are falling on many people, with even those in work turning to food banks.
While the rise in cost of living continues to impact everyone, some communities are more vulnerable and are hit harder than others. According to statistics published by the Office for National Statistics (ONS), people belonging to the BAME (black, asian and minority Ethnic) are more likely to struggle with their paying bills as compared to white adults.
69% of black and 59% of Asians are struggling to afford their energy bills compared to 44% of white adults. Black and Asian households are more likely to be on low income, making it tougher to make ends meet during this cost-of-living crisis.
Another factor that goes against a lot of families within the South Asian community during these testing times is the family set up. South Asian households tend to have bigger families, which means that energy bills will most likely be higher there. Where families have multiple generations living together under one roof and not enough bread winners to support the family, the current crisis will most likely take its toll.
The UK is not facing this crisis alone, with many countries across Europe are facing similar issues. Soaring inflation has led to many protests across Europe, with people taking the streets to express their anger and frustration at the rise in cost of living. And with no quick fix for the soaring energy crisis, and no respite for the people, there is a real fear that things will only get worse, with more protests to come.
