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Analysis: Six Pressures On The UK Economy From Bills To Shopping To Gasoline | Economic policy

Deliveries

Many of the problems facing the economy relate to the shortage of 100,000 truck drivers in the UK – 96% of logistics companies are having trouble recruiting and businesses are becoming warehouse workers, van drivers, mechanics, technicians, forklift drivers and transport managers meager. according to Logistics UK. 19,000 truck drivers left the UK because of the pandemic and Brexit and 45,000 new drivers were unable to take tests because of Covid.

petrol

Ministers were forced to use Army tanker drivers to fill gas stations last week as the fuel crisis entered week three. The shortage, triggered by the shortage of truck drivers and panic buying, has hit London and the South East hardest. Fuel is now more widely available, but 12% of gas stations in the area were still without fuel last Thursday, according to the Gas Stations Association.

bills

Gas and electricity bills rose an average of £ 139 in October and will rise again unless wholesale natural gas prices fall. Customers can pay up to £ 600 more a year, and National Energy Action warned last week that the number of families struggling to heat their homes could rise by 1.5 million to 5.5 million. So far this year 12 energy companies have gone bankrupt.

Industry

Gas bills are not capped for businesses, which resulted in fertilizer factories closing last month, resulting in carbon dioxide shortages. Steel, glass, paper, ceramics and other heavy industry manufacturers say they may be forced to stop production – which could mean the permanent closure of some plants.

retail trade

Shelves in shops and supermarkets are empty. According to the Bureau of National Statistics, one in six adults has not been able to buy essential groceries in the past two weeks, and nearly a quarter said they could not buy other non-essential items. People also wait longer for recipes. The government has appointed a supply chain advisor, but logistics companies expect the problems to worsen in the run-up to Christmas.

Job offers

With around 2 million jobs already to be filled, employers have begun hiring around 100,000 temporary workers to fill Christmas roles, with Royal Mail, Tesco, Sainsbury’s, Amazon, Morrisons and John Lewis looking for employees. Ministers appear to have pinned their hopes on the end of last month’s vacation, which ended support for around 1 million workers under the program.

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