fuel vouchers could help

Social tariffs are failing to meet the needs of the estimated 4.5 million people in fuel poverty, according to financial comparison website Uswitch.
It said this year’s 15% rise in energy prices had pushed another 500,000 people into fuel poverty.

But fewer than 400,000 consumers were benefiting from the social tariffs offered by energy companies to those who were struggling, it found.

The government is considering a fuel voucher to help the poorest pay bills.

debts getting out of control

UK households are facing an increasing challenging financial situation after a study published today revealed that more than one in three people are worried about the uncertainty of Britain’s current economy and 15.3 million consumers feel they are in a financially poor situation.

The report by uSwitch.co.uk has shown that the average person in the UK now sees over half (53 per cent) of their monthly take home pay eaten up in debt repayments while 35 per cent goes straight out to cover mortgage payments and 18 per cent get consumed by other debts.

Consumer confidence is crumbling as the reality of the ‘credit crunch’ starts to bite particularly in the wake of the Northern Rock fallout coupled with interest rate uncertainty and a slowing property sector.

Now 15 million people claim to feel financially worse off than ever before which is having a knock-on effect on people’s aspirations. More than half of consumers say that now is not the time to make life-changing decisions such as making a career change, getting on the property ladder or starting a family.