Uk news "Tory created cost of living crisis." says MSP Natalie Don PremierLeague-News.Com

PremierLeague-News.Com - MSP Natalie Don says that the UK Government have lost control of the economy

Uk news "Tory created cost of living crisis." says MSP Natalie Don PremierLeague-News.Com

PremierLeague-News.Com - MSP Natalie Don says that the UK Government have lost control of the economy

Uk news "Tory created cost of living crisis." says MSP Natalie Don PremierLeague-News.Com
04 August 2022 - 14:46

PremierLeague-News.Com - Breaking Sport Transfer News ! The SNP has warned of a ‘double-whammy’ hit to households in the coming months after changes to interest rates and the energy price cap were announced yesterday. The political party have hit out at the timing of the announcement as they feel that people are getting hit twice as hard and will cause people to be more fearful of the household economy. Ofgem confirmed that the energy price cap, which limits how much energy companies can charge households, will now be updated quarterly, as opposed to the current rate of twice a year, to keep up with the rising costs. The energy price cap rose by 54 per cent in April to £1,971, with further rises in October set to hike bills to just under £3,500 a year. Don't miss the latest headlines from around Renfrewshire. Sign up to our newsletters here. Furthermore, the Bank of England has announced that they are raising interest rates to 1.75 per cent, a jump from 1.25 per cent. This is the biggest jump in interest rates in 27 years, something that MSP Natalie Don has highlighted as a concern for people with mortgages: “This is extremely worrying news for anyone with a mortgage – especially those without a fixed rate deal. With Interest Rates going up to 1.75%, those on a typical tracker mortgage will have to pay about £52 more a month. Those on standard variable rate mortgages will see a £59 increase. “This interest rate rise will also impact on those who have loans including credit cards, bank loans and car loans. “It’s clear the UK Tory Government have lost all control of the economy, allowing energy companies to make massive profits while people are struggling with vastly increased food and fuel costs.

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.” The SNP’s Depute Westminster Leader, Kirsten Oswald MP, has backed Natalie Don’s calls by saying the announcements spelled disaster for households already left reeling from sky-high energy bills and the Tory cost of living crisis, and called for urgent action to address households economic fears. Download the free Renfrewshire Live app today Renfrewshire Live, the new free app dedicated to bringing you around the clock breaking news, is now available to download. Powered by the Paisley Daily Express, Renfrewshire Live is your go-to source for news, features and sport with live coverage provided direct to the app, seven days a week. The dedicated team of experienced journalists, responsible for the publication of the award-winning Express, will focus on breaking news, day and night, across Renfrewshire’s towns and villages. There is also a dedicated St Mirren section that will follow every kick of the ball with the Buddies. Available on both Android and Apple. Download here: smarturl.it/RenfrewLiveSocial In a statement, Kirsten Oswald has said itnis “scandalous” that people find themselves in this situation in the 21st century: “With every day that passes without action from the UK government, more households are forced into making the tough decision over whether to heat their homes or put food on the table. That is scandalous in the 21st century. “It begs the question what exactly will finally shame the Tories into action? So far it seems absolutely nothing, showing once again why Scotland desperately needs to escape Tory rule with the full powers of independence.” Read More Related Articles Scottish SPCA launches scheme to help people look after pets during cost-of-living crisis Read More Related Articles Northern Soul group set to perform in Paisley for charity Download the FREE Renfrewshire Live app now for all the latest news, features and sport in your area. Available on both Android and Apple. Download here:smarturl.it/RenfrewLiveSocial

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