With so many people up and down the country struggling to live on the amount they are paid, this is the time were people would go in to do more over time to get more money to help them survive, with many people losing there homes and struggling to pay back bad debt, news from the EU of scraping the 48 hour week could have a damaging effect on everyone who used to put in those extra hours to help towards paying bills and food shopping. From next year that could all change with fears that the 48 hour week could be scraped all together. The UK is the only country in the EU apart from Latvia that does the longest amount of over time and this could of be a thing of the past, if European ministers have their way.

Struggling companies who are suffering from the recession say that they will be hit very hard from the news that people will no longer be liable to work extra hours, and would have a massive effect on businesses all around the country. With so many companies struggling as it is, this would be another massive blow for the UK economy, a blow that couldn’t of happened at a worse possible time. The only countries that come close to doing the highest amount of hours in the EU is Latvia, and out side the EU Australia is the only other countries who allow longer periods of work, to allow employees to earn more money.

If plans were to go through, this could cripple an already damaged UK economy.

EU to scrap overtime is a post from: Bad Credit Loans

So even with the Financial crises happening at the moment the people of the UK are still being hit with large raises in this sector. OECD also reflected on the price of oil over the summer of this year that went up to $150 a barrel, but now this has dropped dramatically with the loss of consumer spending, yet these energy companies have had a massive reduction in fuel cost, they yet show they are passing over the saving to the British public.

Yet energy companies now say the reason why the UK are paying more for their gas and electric bills is because the UK does not have the space to stock up on energy, so they can not take advantage of lowering prices when they happen. Although others believe that this is just  an easy answer for  energy companies. That they should pass the saving made on raw energy material should be passed on to the customer.

Supermarkets are also in the spot light as fallen Price’s of food and cost in transport compared to this summer have dropped, yet they still have not dropped their prices and now are being watched suspiciously, as they say their cost have dropped, but yet figures show that the average house hold is paying more then £1000 a year on the shopping bill. So it would appear that actions may be taken by government to finally drop the cost of energy and food, but fears are this would bring us into deflation rather then inflation.

Energy prices sore twice as fast as Europe is a post from: Bad Credit Loans