Londoners hit by cost of living double whammy

<p>The day that millions of households have been dreading has arrived, Ofgem has confirmed there will be a £693 rise to the energy price cap, taking the new threshold to £1,971, meaning an increase of 54 per cent.&nbsp;</p><br><p>The chancellor, Rishi Sunak, has outlined support measures of a £200 discount on all electricity bills from October - which will later be repaid - and a £150 council tax rebate for those in bands A to D… but does it go far enough in terms of help?</p><br><p>It comes as the Bank of England announced that its benchmark interest rate will go up from 0.25 per cent to 0.5 per cent, making mortgages more expensive for many borrowers.</p><br><p>The Evening Standard’s Consumer Business Editor, Jonathan Prynn, walks us through how this will all impact the people of London.&nbsp; </p><br><p><br></p><br /><hr><p style='color:grey; font-size:0.75em;'> See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for privacy and opt-out information.</p>