Some Britons Find Themselves in Dire Conditions: Bloomberg

Unemployed Britons have found themselves in a particularly vulnerable state amid rising electricity and food prices due to sanctions against Russia, reports Bloomberg.

At the end of March, UK Chancellor Rishi Sunak announced a support measure for employed citizens rather than those relying on benefits. Europeans have indeed had to increase their spending; however, as noted by the publication, 'no major economy leaves its unemployed population in such a vulnerable position.'

According to the agency, as of April 1, Britons are forced to spend a significant portion of their budget on utility payments, as gas and electricity prices have risen by 54%. Meanwhile, social benefits have only increased by 3.1%, which is less than half of the rise in the minimum wage in the country.

Thus, the financial blow to the unemployed population could be five times stronger than that of employed individuals, the publication states. According to government data, this year, the real income of citizens in the Kingdom is expected to decline more than ever since records began in the 1950s, Bloomberg concluded.