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The UK government intensified its efforts to respond to the cost-of-living crisis in May 2022, with a £5 billion windfall tax on energy companies to help fund a £15 billion support package for the public. The package included every household getting a £400 discount on energy bills, which would be in addition to a £150 council tax refund the ...
In 2020, the BBC reported the UK's housing gap was in excess of one million homes, [26] and previously (in 2019) that "An estimated 8.4 million people in England are living in an unaffordable, insecure or unsuitable home, according to the National Housing Federation". [27]
The consequence of this is seen in the high price for top-end dwellings. The most expensive home ever sold in the UK was 2–8a Rutland Gate, Hyde Park, which sold for £280 million in 2015. [62] The most expensive street in the UK is Kensington Palace Gardens, London, where the average price of a home is approximately £42 million. [63]
Singapore and Zurich are the most expensive cities in the world to live in, according to a new report.. The Southeast Asia hub retains the spot it held last year, with Switzerland’s largest city ...
Depending upon where in the United States you live, it's one of the more expensive countries to live in. Yet 50 other countries are also considered the most expensive in the world, though many of ...
A cost-of-living crisis refers to a socioeconomic situation or period of high inflation where nominal wages have stagnated while there is a sharp increase in the cost of basic goods, such as food, housing, and energy. As a result, living standards are squeezed to the point that people cannot afford the standard of living that they were ...
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The UK was not alone: global inflation rates were the highest in 40 years owing to the pandemic and Russia's invasion of Ukraine, [125] though as of September 2022, the country had the highest domestic electricity prices and amongst the highest gas prices in Europe, contributing to a cost of living crisis. [126]