In an effort to address the increase in the cost of living in BritainFinance Minister Risi Sunak announced a package totaling 10.8 billion euros.
These measures include an annual discount on energy bills of 240 euros for each household and an annual reduction of 180 euros in municipal fees in many homes.
At the same time, in an effort to control inflation in the country, the Bank of England today raised its interest rates by 0.25%. This is the second increase in interest rates in three months.
THE British Energy Regulatory Authority (Ofgem) had announced earlier today that it enables power companies to raise their price ceiling by up to 54% from April so that they can cope with the rapid rise in wholesale energy prices worldwide.
In practice, this means that more than 22 million households in Britain will be charged around € 830 a year from electricity and gas bills alone.
At the same time, inflation in the country is galloping, with analysts estimating that in April it may even exceed 7%. It is noteworthy that in December alone, inflation in the United Kingdom reached 5.4%, the highest rate in the last 30 years, resulting in rising costs for food, clothing, footwear and other basic necessities.
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