What I write in this post is my personal opinion. I am not an Economist or similar profession. I am simply a UK citizen who has been trying to keep myself informed around the cost of living and who is seeing people around me struggling. Struggling with rising costs and stagnant wages.
The UK seems like it is heading for an economic disaster, one in which masses of people won’t be able to afford to pay all of their bills and fully meet all of their expenses. With every individual bill/expense likely to rise in 2027 by between 3%-20%, I just don’t know how people are going to afford it. Here are some expected increases, click on table image for full size:
Note: The table image above doesn’t include every bill/expense a person/people could have. It is just to represent the costs that most adults in the UK have.
Very few people are likely to get a significant pay rise in 2027. Even if some people do get a significant pay rise, it would need to be massive to meet all of these increased bills/expenses costs. I’m seeing people struggling with rising living costs now, but in 2027, it seems much worse is to come.
The UK Government recently released its budget (link to the BBC with details), that felt to me like it was: too little, too late. It seems like The Labour Party at best have no ideas and at worst don’t care about helping their citizens.
I would like to take this opportunity to point out that all the corporations and companies that are increasing these bills/expenses are in the vast majority, making profits, some of them in the billions of pounds/per year. They don’t need to be increasing costs and certainly not by the percentages they are. It is greed. Greed will only make the rich much richer and the poor much poorer.
When Will The Economic Disaster Happen? What Will Happen?
I think it is likely to happen in April of 2027, when the new tax year starts. Honestly, I’m not exactly sure what will happen when hundreds of thousands or perhaps even millions of people can’t afford to make payments on all of their bills/expenses in full. It is likely that the Government will have to step in with emergency measures to prevent complete economic collapse.
Write soon,
Antony
Hiya lad
I eat rice crispies n strawberries few days a week for my breakfast, now I,ll have no snap,crackle, or pop but probably still same price 🙄.
Hi Shirley,
Thanks the comment. I am beginning to ask myself on a daily basis – When will this craziness end? Everything seems broken, food, services, private companies, everything.
We are living in really mad times!
A x