Household

Government looks to rush through laws allowing pavement ‘charging gullies’ to help boost EV take-up and cut dependence on fossil fuelsUK to appeal against tax ruling cutting VAT on public EV chargers to 5%Households without off-street parking could soon be able to charge their electric vehicles from home under new government plans to help households cut their need for expensive fossil fuels.The government has promised to pass legislation this summer that will allow motorists to run power cables through a charging “gully” built into the pavement outside their home without the need for planning permission. Continue reading...

Analysis by IFS shows George Osborne’s mortgage schemes launched in 2013 had little effect on social mobilityHigher-income households were the biggest beneficiaries of George Osborne’s Help to Buy mortgage schemes, introduced in the 2010s, according to an analysis by the Institute for Fiscal Studies (IFS) thinktank.Launched by the Conservative-Lib Dem coalition government in 2013, Help to Buy involved two separate schemes aimed at making home ownership more achievable in a period of rapid house price growth. Continue reading...

Weakened economic activity, soaring fuel prices and rising inflation have created a horror scenario, RBA deputy governor saysFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastAndrew Hauser, the Reserve Bank of Australia’s deputy governor, says the “stagflationary shock” from the Iran war is a “central banker’s nightmare”, as confidence among Australian households crashed to its lowest level in years.Speaking at an event in New York on Tuesday morning AEST, Hauser said the RBA was “judging the balance” between the damage to the economy from “a big income shock” associated with soaring fuel prices, versus a sharp rise in inflation. Continue reading...

Incentives to absorb surplus wind and solar energy could help balance the grid and lower billsThe UK needs more North Sea gas, not greater reliance on US imports | Nils PratleyHouseholds will be called on to boost their consumption of Great Britain’s record renewable energy this summer to help balance the power grid and lower energy bills.Under the new plans, people could be encouraged to run dishwashers and washing machines or charge up their electric vehicles when there is more wind and solar power than the electricity grid needs. Continue reading...

Resolution Foundation says households face rising costs from higher bills for energy and filling upHigher energy prices as a result of the Iran war are likely to deal a blow to Britons’ living standards, leaving them nearly £500 worse off this year, a thinktank has warned.The Resolution Foundation said households faced rising costs from both higher gas and electricity bills and at the petrol pump. Continue reading...

Catherine King says while peace talks were ‘best chance’ at lowering fuel prices, further help may be included in budgetFollow our Australia news live blog for latest updatesTrack Australia’s fuel prices, service station outages and shipments in chartsGet our breaking news email, free app or daily news podcastThe Albanese government is contemplating further relief for struggling households and businesses in next month’s federal budget, as peace talks continue between the US and Iran amid a fragile ceasefire.The infrastructure minister, Catherine King, said the success of those talks was the “best chance” at bringing down fuel prices. But she warned there would be a “long tail” from the crisis even if the strait of Hormuz – which was still being blocked by Iran and strangling global oil supplies – reopened imminently. Continue reading...

Proposal to help people heat two rooms, provide hot water and run key appliances without incurring more debtIn order to cut rising bills all UK households should receive a minimum amount of energy at rates subsidised by the government through North Sea taxes, a thinktank has suggested.Providing all homes with enough energy to heat two rooms, provide hot water and run key appliances such as a fridge and washing machine, at rates frozen at current levels, would require a subsidy of about £4.5bn, according to the New Economics Foundation. Continue reading...

Chancellor says the government is looking at ways they can support people based on household income Good morning. Keir Starmer is giving a press conference this morning where, according to No 10, he will discuss the Iran war, and how the government is supporting people at home. Now we are in April, the new financial year is starting, and the government is highlighting measures it has introduced that will help people with the cost of living. The Conservatives have an alternative list, and they are claiming this morning that “Keir Starmer and his chancellor have piled on extra costs leaving families almost £1,000 worse off this year”.The chancellor, Rachel Reeves, has been doing her own media too. She is on the Jeremy Vine show later, but she has already given an interview to BBC Breakfast in which she gave a marginally clearer idea of what she is planning to do to help people with energy bills than she did when she made a statement to MPs last week.From July to September, gas usage, especially by families and pensioners, is the lowest of any months of the year because it is the summer months …It will be really from the autumn onwards that people’s gas usage starts increasing. So at the moment we are working on a range of contingencies. And we are looking at more targeted measures. We are looking at ways we can support people based on their household income.I want to learn the lessons of the past because when Russia invaded Ukraine, the richest, the best-off third of households got more than a third of the support. That makes no sense at all. Continue reading...

PM indicates he would prefer to focus taxpayer-funded help on poorest households, rather than universal bailoutMinisters are looking at providing support for household bills next winter, Keir Starmer said, as he suggested the energy price shock unleashed by the Iran conflict could continue for months to come.The prime minister indicated he would prefer to focus any taxpayer-funded help on the poorest households, rather than an expensive universal bailout, ahead of an emergency meeting on the economic fallout of the Middle East crisis. Continue reading...

Consultancy’s forecast of £1,972 annual dual fuel bill follows conflict pushing UK’s gas market past three-year highsBusiness live – latest updatesHousehold energy bills in Great Britain could soar by more than £330 a year to almost £2,000 from this summer after the war in Iran pushed the UK’s gas market past three-year highs.A typical combined household gas and electricity bill is now forecast to reach £1,972 a year from July under the UK government’s quarterly price cap, according to analysis by Cornwall Insight, an energy consultancy. Continue reading...

As Iran war drives up cost concerns, thinktank says £3.7bn discount system should be developed before next winterThe UK government is facing calls to spend almost £4bn to launch a “social tariff” providing cheaper energy for poor households amid growing concerns over the Iran conflict.As households brace for an increase in living costs, the Resolution Foundation said ministers should develop a system of discounted domestic energy bills in time for next winter to protect the most vulnerable households. Continue reading...

Borrowers face losing hundreds of dollars a month in higher repayments and rising pump rices will add to the pain, economists warnFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastSurging interest rates and petrol prices have stripped more than $1bn a month from Australian household budgets as economists warn of recession risks.Consumers are preparing for rates to surpass their recent highs after the Reserve Bank delivered back-to-back hikes ahead of an inflation spike driven by the US war on Iran. Continue reading...

But Michael Shanks says government will not be rushed into plans to reduce costs faced by households due to war in IranBritain’s energy minister has said “every penny” levied on household energy bills will be scrutinised after suppliers warned that households could face a price hike of £250 a year due to the war in Iran.Michael Shanks told MPs that the government would stand ready to provide support wherever needed, but it would not be rushed into plans to reduce the costs faced by households or offer direct financial support. Continue reading...

Ecotricity ranked top in Citizens Advice survey, followed by Outfox, Octopus and Co-operativeBusiness live – latest updatesAround 14 million households in the UK are receiving “below average” customer service from their energy supplier, a consumer group has warned.Citizens Advice said energy suppliers must improve their service, as its survey of 16 companies showed that half of gas and electricity consumers are with suppliers scoring less than three out of five stars for their customer service. Continue reading...

Prime minister expected to set out tens of millions of pounds in help for heating oil users as conflict with Iran drives up costsKeir Starmer will on Monday announce tens of millions of pounds’ worth of support for Britons hit by a spike in energy prices as a result of the Iran war.The prime minister will lay out the plans during a press conference in Downing Street on Monday, during which he will also take aim at some suppliers of heating oil for price gouging. Continue reading...

Democratic leaders project that President Trump's proposed tariffs on imports will increase costs for the typical American family by more than $2,500 per year, exacerbating affordability challenges amid midterm election debates. The estimate factors in higher prices for consumer goods, with critics linking it to broader economic policies including energy waivers. GOP supporters counter that tariffs protect domestic industries and jobs, though polls show voter concerns over inflation. This fiscal warning intensifies partisan divides as Congress considers related legislation.

A Friday report from congressional Democrats highlights that President Trump's tariffs, enacted after Supreme Court invalidation of prior measures, could impose over $2,500 in annual costs on average U.S. households amid efforts to replace lost federal revenue. The analysis critiques the policy as regressive, exacerbating affordability pressures from recent economic strains like energy prices. Trump administration officials defend the tariffs as essential for domestic industry protection and national security. The report fuels midterm election debates on fiscal policy as Democrats push alternative revenue strategies.

A Friday report from congressional Democrats reveals President Trump's expanded tariffs, following Supreme Court invalidation of prior measures, could impose over $2,500 in annual costs on average U.S. households amid efforts to replace lost federal revenue. The analysis highlights economic burdens as Trump pushes replacements for struck-down tariffs, exacerbating affordability concerns. This development matters as it fuels partisan clashes ahead of midterms, with Democrats using the figures to critique GOP economic policies. Upcoming congressional hearings may scrutinize the report's projections and potential legislative offsets.