United Kingdom Energy Costs Set to Rise by 80% Starting in October
Towards the end of August, British authorities announced an 80% increase in electric and gas bills, which is set to go into effect starting in October.
This has added another frightening dimension to the economic crisis the Collective West has faced since the outbreak of the Wuhan virus pandemic. Russia’s military incursion into Ukraine and the subsequent sanctions launched against Russia by Western governments, has only exacerbated these problems.
According to a Press TV report, an 80% increase means that the average cost per household would be roughly 3600 pounds, or close to $4,200 annually starting in October. Such an increase would disproportionately fall on the British working class.
British citizens have not been sitting idly as their economic lot has worsened. Press TV reported on several forms of protests kicking off in light of the recent price hikes:
The latest protest is the postal workers strike with 115,000 workers across 1500 locations, not to mention the criminal barristers and mass rail strikes, which have plagued the UK as the country battles a cost of living crisis like no other.
The UK finds itself in a precarious economic state. Of the countries in the group of seven (G7), the UK is going through the sharpest inflationary crisis — with an inflation rate of 10.1%. Price increases have recently reached a 40-year-high.
Indeed, the UK finds itself in an economic pickle. However, it would be misleading to suggest that external actors like Russia are at fault for this. The current crisis the UK and its partners in the West are facing is the product of a ruling class that’s addicted to government intervention, easy money, and perpetual conflict abroad.
Now, those reckless policies are finally beginning to explode in the Collective West’s face. Hopefully, a new ruling class that is influenced by national populism replaces the current crop of leaders. If not, the West is destined to go through a period of prolonged economic and social collapse.