Forget austerity, here’s who is to blame for your empty pockets | Patrick Collinson
It’s less to do with government cuts and more to do with profiteering by private companies
The mood of the country, we are told, is turning against years of government-imposed austerity. We are fed up with being squeezed by spending cuts; we are rebelling against 1% pay caps â€" and we are absolutely right to do so. But the real reason the average household feels so badly off is less to do with government cuts and more to do with profiteering by private companies.
Research this week by Santander blows the whistle on the ever-growing portion of our monthly pay that goes on largely unavoidable household bills. It looked at bills for gas, electricity, water, TV, phone and so on â€" and found they have escalated in price far, far ahead of average wage rises. Since 2006, average pay packets in Britain have gone up by 19% in pounds and pence terms (in other words, not a djusting for inflation). Meanwhile, the average gas bill has gone up 73%, electricity 72%, and water 41%.
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