Energy spending woe

BRITONS will spend more on energy bills and petrol than at any point since 1984, figures reveal, accounting for 9pc of the average family’s budget by next year.

Analysis by investment bank Panmure Gordon, says that is more than double the 4.6pc seen in 2019.

Chief economist Simon French said: ‘More than 70pc of UK households will allocate more than 10pc of their spending on energy (household and vehicle). In 2019 it was less than 6pc.’

Douglas McWilliams, at the CEBR think-tank said: ‘Income then [the 1980s] was much more evenly distributed – so the hit for most will be much bigger.’

The Bank of England this week said inflation will hit 13.3pc in October.