Credit Crunch Hits Rural Britain
Posted on 26 September, 2008 at 9:33 by Peter Kelly
There is no doubt that the credit crunch has hit the whole of the UK, but it seems that rural arrears are suffering the most, according to research by moneysupermarket.com.
Many homes in rural areas are heated with oil, and the trips to the local shops are often longer. This means that rural residents are being hit twice by the credit crunch, the increase in fuel and well as the increase in food prices. For petrol and diesel in the Lake district, you would be paying approximately 7p over the national average, and the nearest supermarket is approximately sixteen miles away.
Clare Francis of moneysupermarket.com said: “Rural Britain is paying more than urban Britain for its food, petrol and diesel, is travelling further and earning less. It’s becoming a view at a cost.”