Ron61
Established Member
If your Jan 2023 figure in correct we're going to have a lot more to worry about than charging our cars. There are 27.8 million households in the UK with an average home energy cost (not including charging an EV) of roughly £4,500 PA that's an increase of 450% year on year.
The math's is quite simple 27,800,000 x £3,300 (the increase) = £91,740,000,000 taken out of disposable incomes. That doesn't include higher interest rates and the effect on mortgages and general inflation in other goods and services.
All of the above would mean a huge housing market crash, massive defaults on loans, businesses failing just about in every sector leading to a huge level of unemployment. Lots of unemployment, failed business would lead to a vastly reduced tax take for the government, This would then lead to a deflationary spiral into a crash the likes of the UK/Europe has never seen before. You would also see a complete failure of the banking system with that level of default on mortgages and loans.
Better keep your fingers crossed guys it's gonna be a rough ride.
The math's is quite simple 27,800,000 x £3,300 (the increase) = £91,740,000,000 taken out of disposable incomes. That doesn't include higher interest rates and the effect on mortgages and general inflation in other goods and services.
All of the above would mean a huge housing market crash, massive defaults on loans, businesses failing just about in every sector leading to a huge level of unemployment. Lots of unemployment, failed business would lead to a vastly reduced tax take for the government, This would then lead to a deflationary spiral into a crash the likes of the UK/Europe has never seen before. You would also see a complete failure of the banking system with that level of default on mortgages and loans.
Better keep your fingers crossed guys it's gonna be a rough ride.
