End of the Elizabeth era?

 The death of Queen Elizabeth, UK's longest-reigning monarch, comes at a moment of great uncertainty for United Kingdom. A lot is happening in the UK. The Kingdom's inflation had hit double digits for the first time in 40 years; consumer prices rose 10.1% from a year ago. As inflationary pressure moves beyond energy into food costs, the Brits are struggling, and it's expected that many could have a tough time to make ends meet. Rising food prices made the largest upward contribution to annual inflation rates between this June and July, and the Bank of England expects inflation to top out at 13.3% in October 2022.

It's a grim scene at supermarkets — they had to pass on price increases from suppliers — contending with the unprecedented inflation in raw material and ingredient costs.

The Bank of England has implemented six consecutive hikes to interest rates as it looks to rein in inflation, earlier the Bank had launched its largest single increase since 1995 while projecting that the UK will enter its longest recession since the global financial crisis in the fourth quarter of this year.

Surging energy prices, especially due to the Russo-Ukrainian war, have only added to the misery and inflation. Industries and businesses are literally struggling…breweries and pubs had warned of mass closure as energy bills leaped to 300%! Pubs in England and Wales dropped below 40,000 — a record low.

It's learnt that the new Prime Minister Liz Truss will limit energy bill rises for all households — capped at £2,500 annually until 2024. The huge support scheme could cost up to £150bn. Businesses will get help, with prices capped for six months. The help will be for everyone in England, Scotland and Wales with equivalent assistance for Northern Ireland. In spite of this, millions of vulnerable are still expected to be in fuel poverty — for this winter at least. The government aims to compensate energy firms for the difference between the wholesale price for gas and electricity they pay and the amount they can charge customers. Earlier, OFGEM had planned to raise price cap by a whopping 80% — to £3,549/£3,608 from October 2022; cap would've been almost treble than a year earlier, when it was raised to £1,277. The cap wasn't applicable in Northern Ireland, where suppliers could increase prices at any point after getting approval from a different regulator.

As if all this isn’t enough, UK has been consistently plagued by strikes related to the railways and Underground, workers citing job security, pay and working conditions as reasons. Close to 2,000 Felixstowe dockers were also agitating, striking over pay. United Kingdom was also struck with nature’s fury, as unprecedent heatwaves and fires took a heavy toll.

They say, the 'London Bridge is down', but London was already on a downhill spiral. For now, it’s the colonial mindset and demise of the titular head going viral.