Lack of cheap energy contributes to debt problems - 12/06/2009
High prices from energy suppliers have pushed more Britons into debt and many have had to use their savings to pay bills, according to a new report.
Figures from HSBC have revealed that 20 per cent of Britons have had to take money from their savings over the course of the last year as all the UK's energy companies increased their prices during 2008.
The organisation said that with the cost of living still high, long-term concerns have become less pressing than dealing with everyday financial problems.
A spokesperson for Debt Advisers Direct said: "Fuel poverty remains a problem for many households. Combined with other rising costs of living, the price of fuel has meant that many people have struggled to meet all their commitments and with that comes the risk of debt."
The spokesperson said that professional help should be sought by anyone facing these kinds of problems.
All the major energy companies have lowered their prices in recent weeks, but the reductions remain slight in comparison to last year's increases.
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