British households can buy plug-in solar panels from August 27 after a government legal change. Major retailers like Currys and B&Q will sell DIY setups, enabling flats and rented homes to generate electricity, potentially saving £70-£110 annually on energy bills.
Academics Gabriel Zucman and Ben Tippet propose a 2% minimum wealth tax on UK households with over £100m, potentially raising £10bn annually from fewer than 1,000 super-rich families. The proposal aims to fund public services and reduce inequality, aligning with Andy Burnham's calls for fairer taxation, though the new prime minister's specific plans are awaited.
As the UK faces hotter summers, demand for air conditioning in homes has surged. Costs vary significantly, from portable units (£350-£650) to fully installed ducted systems (£5,000-£10,000). While offering comfort, units increase energy bills and raise environmental concerns.
Research suggests millions of UK households could save hundreds annually on energy bills through low-cost solar panel loans backed by the Bank of England. The proposed scheme aims to enable installation on 8m homes without direct government cost, potentially freeing up funds from the Warm Homes Plan.
Millions in England, Scotland, and Wales face a 13% energy price hike on Wednesday. Bill payers without smart meters are urged to submit readings to avoid being charged previous usage at the new, higher rate. Analysts predict prices may persist into winter despite a potential slight dip in October.
UK households saw a 0.8% drop in real disposable income in Q1 due to rising inflation and capital gains tax, marking the fourth decline in five quarters. The ONS reported 0.6% GDP growth, while political figures like Andy Burnham pledge to tackle living costs, and economists forecast a cautious economic outlook.
Ten years after the Brexit vote, analysis shows severe economic costs for the UK. The pound remains below pre-referendum levels, growth has slowed significantly, trade faces friction, business investment and productivity have stalled, and employment has suffered, with public support for Brexit fading.
Watching late-night football matches could help UK households save on energy bills by shifting appliance use to cheaper electricity rates. E.ON Next research suggests significant savings are possible by running appliances like washing machines during off-peak hours, especially during the World Cup. Experts advise considering time-of-use tariffs if you have smart meters and can adapt usage patterns.
Rising energy costs from the US-Iran conflict drive UK households to use savings, with retail sales falling 1.3% in April and consumer confidence dropping. Fuel prices hit highs, and a 13% price cap rise is expected.
UK inflation dropped to 2.8% in April, down from 3.3% in March, driven by a lower household energy price cap. While welcome, the slowdown may be temporary as fuel costs rise due to the Middle East conflict.
The UK's spending watchdog, the NAO, warns Sizewell C nuclear plant's £38bn cost faces "significant uncertainty" and may not benefit households until 2064. Risks are substantial and borne by the public, despite government claims of future savings.
Uefa anticipates increased UK viewership for the Champions League final despite TNT Sport's decision to charge for access, a first in 34 years. While previous finals were free, the new paywall on HBO Max is expected to boost numbers, though critics argue major sporting events should remain free-to-air.
UK unemployment rose to 5% in March, with the Iran war blamed for a fresh wave of inflation and a drop in business confidence. Payrolled jobs fell by 100,000 in April, and regular pay growth is at its weakest since 2020.
UK households' top financial worry is rising prices, with a consumer confidence survey showing a drop in sentiment to its lowest since July 2023. Fears of interest rate hikes and declining savings are contributing to gloom.
Dip in credit card spending in April, particularly on travel, suggests Britons preparing for harder times amid Iran war falloutHouseholds cut back on their spending in April at the fastest pace in 16 months, as the conflict in the Middle East provoked fears of another cost of living crisis, a report from one of the UK’s biggest banks has suggested.Barclays, which processes nearly 40% of the UK’s credit and debit card transactions, said its data showed there had been a 0.1% fall in card spending last month compared with a year earlier. This was the first year-on-year fall since November 2024. Continue reading...
Dip in credit card spending in April, particularly on travel, suggests Britons preparing for harder times amid Iran war falloutHouseholds cut back on their spending in April at the fastest pace in 18 months, as the conflict in the Middle East provoked fears of another cost of living crisis, a report from one of the UK’s biggest banks has suggested.Barclays, which processes nearly 40% of the UK’s credit and debit card transactions, said its data showed there had been a 0.1% fall in card spending last month compared with a year earlier. This was the first year-on-year fall since November 2024. Continue reading...
PwC survey reports fast fall in consumer confidence with people worried about Iran war’s impact on economy and personal financesBritish households are bracing for a new cost of living crisis, as the impact of the Middle East conflict dampens confidence in the economy and personal finances, a survey has suggested.Consumer confidence in the UK has dipped over the last three months at the fastest rate since June 2022, when inflation in the UK was soaring as a result of Russia’s invasion of Ukraine and the spike in commodity prices. Continue reading...
More than 270,000 County Court Judgements were registered in Q1 2025, up 17.5% on last year, as UK energy debt reaches a record £4.5bn. Individuals like Mark Sumner, whose energy bills jumped from £80 to £220 monthly, are facing court action and resorting to food banks and credit cards to survive.
The Bank of England has warned UK households to prepare for higher inflation driven by the Middle East conflict, with mortgage repayments set to rise by £80 monthly and food price inflation potentially hitting 4.6% by autumn. Overall inflation is expected to peak above 3.5% by year-end, rising more than a percentage point above pre-war forecasts. In a worst-case scenario with oil at $130/barrel, inflation could exceed 6% and interest rates may need to rise by 1.5 percentage points to 5.25%. The MPC kept rates unchanged, citing weakness in the UK economy, though markets have already priced in the equivalent of two rate rises.
Three million UK households are skipping meals due to rising costs, according to Which?. Consumer confidence has fallen to -62, the lowest since the 2022 cost of living crisis peak. Eighty-five percent are worried about food prices and 80% about fuel prices, with 71% believing the UK economy will deteriorate in the next 12 months. The average missed bill payment rate has risen to 7.5%.
HM Revenue and Customs has confirmed it will appeal against a London tax tribunal ruling that would cut VAT on public electric car chargers from 20% to 5%. The tribunal found last month that VAT should have been charged at the lower rate, potentially saving drivers hundreds of pounds annually. The appeal maintains a disparity where home chargers pay 5% VAT while public chargers pay 20%, with the Treasury currently collecting £85m/year from the difference, projected to rise to £315m by 2030.
