Energy bills are set to soar at least 14 times faster than wages within the next year amid the ongoing cost of living crisis
Gas and electricity bills are on course to increase by 54 per cent when the new price cap is set in April, but average weekly wages are expected to only go up by 3.75 per cent, according to an analysis by the TUC.
The union organisation estimated that record high energy prices could wipe out the entire value of pay rises this year. The TUC added that those on low incomes would be hit hardest due to years of weak wage growth and benefit cuts leaving them "badly exposed" to the cost of living crisis. It comes as the conflict in Ukraine could result in a futher hike in energy costs, with the Government being urged to come forward with new measures to support struggling families.
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