UK households face nearly £14,000 extra costs on bills since 2021, TUC warns
The Trades Union Congress says British families have paid on average almost £14,000 more for mortgages, loans, energy and water since 2021, urging the chancellor to act in the upcoming budget.
A new TUC report, based on Office for National Statistics figures, finds that the average UK household has spent £13,961 more on mortgages, loans, electricity, gas and water bills since 2021. Mortgage repayments have risen by £9,034, loan payments by £1,911, and energy bills by £2,644, while water charges increased by £372. The union urges Chancellor John Healey, whose budget is due in less than two weeks, to deliver a package that shields low-income families and young people from rising costs.
Business lobbyists and the IPPR think-tank are also lobbying for cuts to national insurance, business rates and a rise in capital gains tax to fund broader relief. The Treasury faces pressure to balance fiscal constraints with the need to prevent a further slowdown in consumer spending.
Why it matters
Rising household expenses threaten consumer spending and economic recovery, prompting calls for fiscal relief.
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