UK households have paid extra £13,961 on bills since 2021 amid soaring inflation, TUC says
Trades Union Congress urges chancellor to tackle rising additional living costs in this month’s budget UK households have paid almost £14,000 on average in additional costs for mor
By The Guardian
UK households have paid an average of £13,961 more on mortgages, loans, energy and water bills since 2021, according to calculations by the Trades Union Congress.
The TUC said the additional costs amount to an average of £2,792 a year. Its figures were based on official data and were cited in a report ahead of the chancellor’s Budget on 28 October.
Mortgage holders faced the largest increase, paying an average of £9,034 more over the period, or £1,806 a year.
People with other loans paid an additional £1,911 on average, equivalent to £382 a year.
Energy costs also rose sharply. Electricity and gas bills increased by an average of £2,644 between 2021 and 2026, according to the TUC’s calculations.
Water bills added a further £372, or £74 a year, to household costs.
The union said persistent inflation and higher interest rates had increased pressure on family finances and weakened household spending.
It is calling on Chancellor John Healey to introduce measures to reduce living costs in the Budget, including a social energy tariff and further support for low-income households and young people.
The TUC has also urged the government to consider higher taxes on capital gains and banks to help fund support.
Healey is due to deliver his first Budget as chancellor on 28 October.