The Autumn Budget - Winter is coming
Money is seemingly what is forever talked about in the news. We're constantly told we're in the cost of living crisis and that we're only steps away from the breadline. There are a few reasons for this, the war in Ukraine, the Covid pandemic and the period of relative boom with historical low interest rates. Those used to super low mortgage rates of less than 1% are now shocked that they are coming back to 'normal' interest rates of 5-6%. However it's not just mortgages that are now more expensive, it's everything such as milk and eggs. This has lead the inflation rate for this month to top 11.1%, the highest its been for 41 years. This makes it hard for us to afford everyday items as our wage has definitely not gone up by that amount. This disparity has led to the many strikes that have happened this year (trains, royal mail) and may lead to more in the next few months (nurses, doctors).