Read the article and answer the questions:
1) What was the result of the UK government's tax cuts?
2) How did the housing market react to changes?
3) How will low-income households survive?
4) What consequences can more expensive fuel have for people's health?
Post your answers in the commentary section below.
1)Currently, rising interest rates have led to an increase in mortgage loans, while real wages are falling. This will lead to more expensive and increasingly inaccessible housing.
ReplyDelete2)The costs of expensive mortgages are passed on to both homeowners and tenants in the form of higher mortgage payments and higher rents. Shelter stressed that almost 2.5 million people are falling behind or constantly trying to pay rent - an increase of 45% since April 2022.
3)The constant threat of being homeless and the stress associated with it are exhausting. It's that you don't know if you'll have a roof over your head next month or food on the table next week. It's the stress of realizing that even working 50 hours a week won't bring in enough money to cover the bills. Such financial instability is associated with heart attacks, strokes, cancer, depression and shortened life expectancy.
4)Fuel poverty will force families to live in cold and damp houses. As a result, many will get sick. Respiratory diseases such as wheezing and pneumonia are associated with unheated homes, and humid conditions contribute to asthma. As the air gets colder indoors, the lungs struggle to function. Doctors expect to see an increase in the number of hospitalizations due to breathing difficulties during the winter, and children skip school while they are sick.
1)This led to more expensive and increasingly unaffordable housing. The British economy has spiralled into chaos.
ReplyDelete2)The fall in the value of the pound following the mini-budget resulted in violent movements in the money market that has seen lenders pull competitive home loans in anticipation of further interest rate rises. This has pushed many wannabe homeowners to the sidelines.
3) The constant threat of being homeless, and the stress associated with this, is debilitating. This is the toll of not knowing if you’ll have a roof over your head next month, or food on the table next week. This is the stress of knowing that even working 50 hours a week won’t bring in enough money to cover the bills. Such financial precarity is linked to heart attacks, strokes, cancer, depression and reduced life expectancy.
4)More expensive fuel also has dangerous consequences for people’s health. In the UK, 50% of gas is imported from international markets and 53 million people are projected to face fuel poverty by January 2023. Fuel poverty will force families to live in cold and damp homes. Many will become ill as a result. Respiratory conditions such as wheezing and pneumonia are linked to unheated homes and damp conditions contribute to asthma.
1 There are two impacts of lower tax. Lower income tax rates increase the spending power of consumers and can increase aggregate demand, leading to higher economic growth (and possibly inflation). On the supply side, income tax cuts may also increase incentives to work – leading to higher productivity.
ReplyDelete2The fall in the value of the pound after the mini-budget led to sharp movements in the money market, with lenders withdrawing competitive home loans in anticipation of further interest rate hikes. This pushed many willing homeowners to the sidelines.
3The constant threat of homelessness and the stress that comes with it is tiring. The thing is, you don't know if you'll have a roof over your head next month or food on your table next week. It's the stress of knowing that even working 50 hours a week doesn't bring in enough money to cover the bills. Such financial instability has been linked to heart attacks, strokes, cancer, depression, and reduced life.
4lack of fuel will force families to live in cold houses. As a result, many people get sick. Respiratory diseases such as wheezing and pneumonia are covered by unheated houses, and humid conditions develop asthma. When the air in the room becomes colder, the lungs begin to function with difficulty. Doctors expect hospitalizations for breathing problems to increase in the winter, and children to miss school when they get sick.
1. Rising interest rates are now driving up mortgages while real wages are falling. As a result, housing is expected to become increasingly expensive and unaffordable.
ReplyDelete2. The fall of the pound sterling after the adoption of the mini-budget led to sharp movements in the financial markets, with lenders turning down competitive mortgages in anticipation of further interest rate rises. As a result, many potential home buyers left the mortgage lending market.
3. The threat of homelessness is always present, and the stress associated with it can be debilitating. It's like not knowing if there will be a roof over your head next month or if food will be on the table next week. It's the stress of working 50 hours a week and not earning enough to cover living expenses. This economic uncertainty has been linked to heart attacks, strokes, cancer, depression, and shorter life spans.
4. Due to fuel poverty, families live in cold, damp homes, and as a result, many suffer from respiratory diseases such as asthma and pneumonia. Doctors expect that more people will be hospitalized in winter for breathing difficulties and children will miss school due to illness.
1. UK government's tax cuts leads to increase inquality and makes the bulk of the population poorer have grave consequences for health and wellbeing.
ReplyDelete2.This politic will lead to more expensive and increasingly unaffordable housing. The costs of expensive mortgages are passed on to both homeowners and renters, in the form of higher mortgage payments and higher rents.
3. The price of food will increase further and so low-income households will be forced to buy the cheapest products, food that is ultra-processed and detrimental to health, while middle-class households will have an increasing share of their income taken over by weekly shopping bills.
4. More expensive fuel also has dangerous consequences for people’s health. Due to fuel shortages, families will have to live in cold and damp houses. And many people will start getting sick with respiratory diseases. This crisis will also increase pressure on the health system.