With the cost of food, fuel, mortgages and utility bills increasing in 2008, the average cost of living is now £1,307 per month. The Chancellor, Alastair Darling, is under renewed pressure to abandon a proposed petrol tax increase in April.
Nearly 14,000 London homeowners were issued with repossession orders last year. Around half of those issues, resulted in losing there homes after missing mortgage repayments.