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Almost half of Scots have 'nothing left' to cut back on as more energy price hikes loom

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dailyrecord.co.uk

Nearly seven million people say they have “nothing left” to cut back on in the face of a looming wave of crippling energy price hikes, research has revealed.

The number warning that they have no financial slack rose to more than one in four among low-income households. In Scotland, just 52 per cent were confident they could ­maintain their “current lifestyle” in the coming year – compared with 56 per cent across the UK.

Millions of households are already in the grip of a cost-of-living crisis following a surge in energy, food and fuel bills. Experts warn the situation is set to worsen, with inflation predicted to rise from its 40-year high of more than nine per cent to 12 per cent in the autumn.

One of the main reasons is energy costs, with a price cap set by regulator Ofgem ­forecast to rocket from £1971 a year to more than £3500 in October.Scottish Labour’s finance spokesperson Daniel Johnson said: “This cost of living crisis has already pushed too many Scots to the edge.

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