FERMANAGH households are bracing themselves for a difficult summer after it was confirmed there will be a sharp rise in costs of items and a big hike in bills coming into force in April.
Businesses are fearing for their futures after the UK Government revealed that there will be a rise in National Insurance next month, while the cost-of-living crisis shows no sign of relenting.
Fermanagh and Omagh District Council has confirmed that the district rate will increase by 3.76 per-cent for the 2025-2026 financial year, which was met with frustration by some local residents.
It has also been reported that council tax will increase in England, Scotland and Wales this year.
An in-depth analysis from BBC News has revealed that essential bills will rise throughout the UK.
Motorists are also preparing themselves for a tax rise on vehicles. Cars registered after April 2017 will see a rise in its tax by £5, going up to a reported £195 a year, in a blow to local drivers.
It is also understood that there will be changes to TV licences, broadband and phone charges.
Local residents will be informed of any rises to bills by their respective providers, but it has already been reported that any future rises will depend on when a user took out their contract.
It has also been reported that the cost of a TV licence will increase after April.
In a major blow to home owners, it has been confirmed that buyers will now be forced to pay ‘stamp duty’ on homes and properties over £125,000, instead of at the current £250,000 limit.
Many first-time buyers are already struggling to get on the property ladder and the changes which are set to be made to the ‘stamp duty’ implementation have been met with much frustration.
All eyes are now on the UK Government and the UK Chancellor of the Exchequer, Rachel Reeves, to see what other financial changes she’ll implement at the Spring Budget on March 26.
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