Published On: Sun, Mar 31st, 2024
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All the bills set to skyrocket on April 1 as National Price Hike Day hits | Personal Finance | Finance


April 1 is nicknamed National Prike Hike Day in the UK, as key essentials use the day to hike up their costs ahead of the new financial year. This year Britons will see their council tax, water bill and broadband all go up, among several other essential items, despite an ongoing cost of living crisis.

TV & Broadband: 

Customers on BT, EE, Plusnet and Vodafone will all be charged an extra 7.9 percent from April. These companies pin their prices to December’s inflation figure plus 3.9 percent – which is common practice in the industry.

Virgin Media and O2 are upping prices by 8.8 percent, based on the retail price index from January plus 3.9 percent.

Sky is also imposing price hikes, handing most Sky TV and broadband customers an average increase of 6.7 percent.

Council tax:

Cash-strapped councils are trying to battle bankruptcy by increasing bills by at least 2.99 percent. This goes up to 4.99 percent if the council is responsible for social care. Councils, many of which are in a state of financial crisis, have already started to cut services such as parks, leisure facilities, arts and culture.

Birmingham City Council, which has declared effective bankruptcy, has been permitted to hike council tax by an astonishing 21 percent over two years.

Meanwhile, people in Scotland will see their council tax frozen.

TV licences:

The annual cost of a standard colour TV licence will rise from £159 to £169.50 from 1 April – an increase of £10.50.

The cost of a TV licence for a black and white set – still watched by more than 4,000 UK households – will increase from £53.50 to £57 from the start of April.

Water:

Despite a record 105 percent rise in raw sewage discharges in the past year, water companies will again by raising water bills. The average household water and sewerage bill in England and Wales will go up by an average of 6 percent from April. Water UK said the increases would leave households with an average annual bill of £473. Water companies have pledged to invest the money to cut leaks, stop sewage spills and increase reservoir capacity.

Train fares:

Rail fares will rise by 8.7 percent in April for those in Scotland, while England and Wales have already seen fares increase by 4.9 percent earlier this month.

Stamps:

The Royal Mail will raise the price of stamps again, increasing the price of a first class and second class stamp by 10p to £1.35 and 85p respectively.



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