Filed under: Economy, European Union, Family, Laws & Regulations, News | Tags: Daily Mail, Freedom, Living, Taxes
Source: Daily Mail
Britain has the highest cost of living in the Western world, it is claimed today.
A Middle Britain family’s annual bills for a home, food and other essentials – estimated by a firm of international economists – total £38,880.
This figure has leapt by more than £2,000 a year compared with calculations made four months ago by the same experts.
The increase is a reflection of the rising cost of energy, food and housing – particularly rents and fixed-rate mortgages.
Yesterday, the cost of crude oil hit a new high of 141 dollars a barrel, threatening further increases in prices on the high street.
The Daily Mail Cost of Living Index has noted a 19.8 per cent increase in the price of essential food items in the past year – adding around £1,000 to annual grocery bills.
Household energy bills have jumped by around £130 a year to just over £1,000, while there are warnings that a further £400 rise is in the pipeline.
It does not include tax havens or ‘wealthy playgrounds’ such as Monte Carlo.
The cost of living in London is a useful bellwether for comparing Britain with other countries, according to the ERI which operates in the U.S. and Britain.
The calculations are based on a family of three with a gross income of £51,039.
That equates to the annual salary of a middle management executive, or a couple each earning around the average wage.
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