A report released by the Trades Union Congress (TUC) suggests that UK households have paid an average of £13,961 in additional costs for mortgages, loans, energy, and water bills over the past five years. The TUC argues that these cumulative expenses have significantly impacted the economy by forcing households to reduce discretionary spending, which in turn has contributed to the UK’s weak consumer growth.

With the government’s budget announcement approaching, the TUC is using these figures to lobby for specific support measures for families. The report highlights that the ongoing cost-of-living crisis remains a primary barrier to economic recovery. While the TUC emphasizes the burden on households, the report serves as a policy recommendation for Chancellor John Healey to address these financial pressures directly. The data focuses on the period from 2021 to the present, capturing the inflationary environment that has affected utility prices and interest rates on debt.