23 March, 2022
EDITORIAL: The Cost of Living Crisis - when there is no more slack in your budget
Entering 2022, we all hoped that the economic year would be more optimistic for business and us all after a long period of upheaval. With the successful vaccine rollout promising an end to two years of COVID commotion, there were indications that life would at long last go back to something resembling normality. But in the background on that first day of January were the statistical rumblings that illustrated that fuel rose 30% just in 2021, food jumped 6 to 7% and rates, health care costs, insurance and veterinary expenses all went up, not to mention the cost of housing – for those already into the housing market, they just want to stay in. For those renting it has drained your pockets and we are now facing a homelessness and housing affordability crisis as more people struggle to pay increasing rents. Renting costs may have only increased marginally in the regions however, with the Ukraine war the huge rise in the cost of fuel has had a disproportionate cost on those in the regions because of the necessity to travel distances and the lack of public transport as an alternative option. For those that thought that the pinch did not start until the escalation of fuel due to the Ukraine war you are the last to feel it, with even those on full time wages feeling the pinch. But spare a thought for those that are on government support, for those in particular things are getting desperate.