April 1 marks the beginning of a significant cost-of-living crunch in the UK. Council tax, water, prescriptions, broadband and mobile phone bills are all set to increase. The increase is said to be the most brutal since the 1950s.
According to reports, those with annual incomes of £12,570 will witness their taxes and bills rise by at least £348 per year. On the other hand, individuals who earn over £50,270 can expect an increase of around £684 annually.
The average council tax bill will exceed £2,000 for the first time ever. Meanwhile, customers juggling rising charges can expect at least a 14% increase in mobile and broadband services.
Water bills are expected to experience their most significant surge in approximately two decades. The typical household's annual expense could reach up to £448.
Although many billpayers benefited from discounts during winter due to COVID-19 lockdown measures last year; such discounts were halted by April 1st this year. It is important also to note that energy prices are projected to rise this month before summer sets in.
Nous.co has estimated that households could see an additional cost of up to £90 per annum as a result of these hikes. A typical family may face being worse off by approximately £682.70 each year. In response to customer concerns about potential financial difficulties caused by these increases; Water UK has stated that rates would only go up by 7.5%. This figure means customers' daily expenses would amount on average around £1.23. To ease Ofgem's soaring price cap pain resulting from increased energy costs; Energy Bill Support Scheme (Energy Bill Support Scheme) was introduced earlier this March but ended soon after its implementation.
Overall it remains unclear how long these surges will last, and it is up to families to find ways to manage these rising bills.