Received from: TSSA
Congress notes the effects of the Iran war on the cost of living. Fuel prices at the pump have spiked, and energy costs rose by 13 per cent in July with the average bill reaching £1,862 per year. Lenders have also raised rates, increasing mortgage repayments.
Congress further notes that while inflation has reduced from 2021–24 levels and 2022’s 41-year high of 14.2 per cent RPI, wages have lagged. Households are now significantly worse off. In April, 79 per cent of adults reported an increase in their cost of living. By November, food is expected to have become 50 per cent more expensive compared to 2021.
Congress is alarmed that, according to the End Fuel Poverty Coalition, since January 2026 the energy industry has posted profits of £26.2bn (as of May), and TUC analysis reveals banks paid £25bn in bonuses for the financial year ending March 2026.
Congress believes the government must take robust action to tackle the cost of living, and the profiteering from banks and the big corporations.
Congress calls on the TUC General Council to campaign for:
i. a return to pre-April 2022 energy price cap rates
ii. an extensive package of financial support for households facing rising costs, funded by taxes on profits
iii. increased investment in renewables, reducing dependency on fossil fuel markets, and in a massively expanded and affordable green public transport system, mitigating household reliance on fossil fuels
iv. a mass programme of home insulation, boosting energy efficiency
v. an end to the Iran war, a cause of energy price volatility.
Transport Salaried Staffs’ Association