‘Fix the gaps’: British economy is going downhill

The crisis has affected – so far only tangentially – even the coronation of Charles III, scheduled for May 6th. There is a debate in society: is it appropriate to spend considerable sums on a solemn ceremony, when such things are happening in the country with the economy and the incomes of citizens.

But as the Minister of Entrepreneurship, Energy and Industrial Strategy, Jacob Rees-Mogg (a convinced, by the way, monarchist with a reputation as a “reactionary”!), said, a crisis is a crisis, and the accession of a new king to the throne should go well. In a commentary for Sky News, the head of department declined to suggest how much this event would cost, but made it clear that the treasury would not stand up for the costs: “We don’t have coronations that often. I think the key to a coronation is actually that it’s a religious ceremony. In fact, it is a sacrament. I hope we will see a coronation worthy of our sovereign. These are one-time expenses.”

However, in Buckingham Palace they decided, apparently, to cut the coronation, making it cheaper and less magnificent.

However, these are matters of higher spheres – and there is still plenty of time until May 6th. And what worries the “here and now” of ordinary Britons?

While the people of the United Kingdom worry about rising energy prices and think about how much heating will cost them in the coming winter, the recent decision of OPEC + not to increase oil production has already backfired on British motorists by the increased cost of gasoline at gas stations.

Fuel prices are on the rise again for the first time in three months, adding to the pressure on drivers during the cost of living crisis. And this despite the fact that, according to the automobile organization AA, the prices of gasoline and diesel fuel in the UK have been falling since the beginning of July and throughout the summer, but the trend has changed after the recent meeting of the oil cartel.

Over the past weekend, the average price of gasoline at British stations rose by almost half a penny, and the cost of diesel fuel also began to rise again. Before the weekend, average petrol prices at gas stations were 162.32 pence per litre, according to the AA, but on Monday they reached 162.78 pence per litre. And the average diesel price rose even more, from 180.45p ahead of the weekend to 182.17p on Monday.

What is a halfpenny per litre? It seems like a trifle – but for British car owners, according to the local press, even such a rise in price means a considerable headache, since it means additional pressure on consumers, already experiencing a shortage of funds due to rising electricity prices. Look, even toilet paper has risen in price by 15 percent in a year.

Meanwhile, the International Monetary Fund has been criticizing the plans of the new British Chancellor of the Exchequer, Quasi Kwarteng, to cut taxes. The IMF predicts that the move will boost prices. Outside the eurozone, only Slovakia is expected to experience higher inflation than the UK. Inflation in Britain will peak at around 11.3% by the end of the year, according to the IMF’s latest assessment of the global economy.

But in Downing Street, the plans of the Chancellor of the Exchequer are defending. A spokesman for the prime minister said the finance minister’s policy was “to support the British people at a time of high global prices.” What remains to be done? Against the background of what is happening, one is hardly surprised at the sharp drop in the popularity of Liz Truss, even among members of the same party, not to mention representatives of the opposition. And there are moods in the air that it would be good to change the head of government.

Meanwhile, British analysts have just encountered an unpleasant surprise in the spirit of “calculated – shed a tear.” The UK economy contracted unexpectedly in August, bolstering forecasts that it will slip into recession. The unexpected drop of 0.3% came as consumer-facing factories and businesses struggled, official data showed. Previously, analysts believed that in August the UK economy will stop its growth, but will not decline, as the costs of businesses and households rise. However, the situation looks much more deplorable.

Prices are rising at the fastest pace in 40 years, eating into household budgets and outpacing wage growth. Against this background, advice printed in the British media on how to save money and survive the cold months without painful financial costs turned out to be very popular. The fact is that last week the UK government also decided to save money and canceled a previously promised campaign to inform the public about savings in energy worth 15 million pounds.

So the tabloids took over to help the public live in economy mode. Thus, the Daily Mail warns readers: “Changing your cooking habits can save you over £100 a year.” For example, it is recommended to abandon the use of electric ovens in the kitchen and look for alternative ways to heat food. For example, air fryers are recommended. It is said that it costs only 27p to cook potatoes in a deep fryer, while it costs 10p more in the oven. A microwave oven promises an even greater benefit – 7 pence. Britons are also advised to use slow cookers: cooking chicken in it will cost 50 pence, half the price of £1.02 required to bake chicken in the oven.

You can prepare food ahead of time in large batches and then reheat it in the microwave for a week – and this will save you £112 a year.

Washing dishes also provides opportunities for savings. An average dishwasher load will cost 26p, which is double the cost of washing the same amount of dishes under the tap for 15 minutes. But running a faucet for three minutes will only cost 10p, and anything less than seven and a half minutes will be cheaper than a dishwasher. So here you need to think carefully before you start washing plates and cups.

Another life-hack for the British: you need to disconnect “vampire devices” from the network, that is, TVs, music speakers and other gadgets. While connected, they may consume electricity in standby mode. Unplugging these appliances can cut bills by £55 a year.

Insulating windows and doors well and sealing gaps is also a way to avoid unnecessary spending due to drafts. Hiring a craftsman to do the work would cost around £225 but would save £125 a year, according to the Energy Saving Trust. At the same time, for some reason, it is not mentioned as an option to fight drafts with your own hands – but it’s also savings.

Of course, it’s a good idea to set your radiators right: Installing thermostatic radiator valves that keep rooms at a constant temperature can save you £75 a year.

To keep the apartment warmer, the following life hack is designed to help, draw the curtains before dark and get an electric blanket: “A 100W electric blanket costs a little over 5p per hour of operation at full power. So if you leave it on for two hours before going to bed, you will only spend 10p.”

As much as £3 a year can be saved by replacing 50W halogen bulbs with an LED bulb. Britons are urged to think about this, given that the average household has more than 12 light bulbs. Well, and by itself, the classic: “Leaving, turn off the light.” This will save you £20 a year.

The British are being asked to reduce the amount of water they use. After all, if calculations are to be believed, the typical family can save £70 a year by cutting their shower time down to four minutes. There is also a reason to cut down on the use of the tumble dryer – by ditching this device, you can cut your bills by £100. It is much more profitable to dry clothes on a radiator or clothes dryer.

This is the advice given by British newspapers to the middle class. Although, perhaps, representatives of the wealthy class will also need them. “Hypanul” the other day, billionaire John Caudwell, who announced that he would not heat his mansion this winter. Oh no, not out of savings – but to “annoy” Putin, who, as a result of this act of billionaire self-sacrifice, will receive “less dollars.”

Cadwell promised: “I’m going to heat one room where we’re going to live, and 98 percent of the house will stay cold.” It seems that this was called in childhood: “To spite my grandmother, I will get frostbite.”