Inflation in the U.K. has hit a 41-year high driven in large part by gas and electricity costs. In the latest, some parents are struggling to afford school meals. Free school lunches are provided for all 4- to 7-year-olds in England, but most parents of older children have to pay about two pounds USD a day for their child to have a cooked meal.

Cost of living crisis looms over UK schools

According to Barclaycard, almost half of Britons plan to cut down on Christmas gifts to try to save money amid the biggest cost of living crisis in the country.

48 percent people plan to spend less this Christmas, says Barclaycard

A new era for the United Kingdom has begun with the passing of Queen Elizabeth II&nbsp;— but one that is rife with waning national morale and economic insecurity.&nbsp;

At 96, the queen was the longest-reigning monarch in British history. She passed away "peacefully" on Thursday at Scotland's Balmoral Castle, hours after medical professionals had raised alarm about her failing health.&nbsp;

Following the news, tens of thousands of Britons gathered outside Buckingham Palace amid the pouring rain to pay their condolences.

The queen had come to represent rare stability in a world of continual change over her 70-year reign, which saw the aftermath of World War II, the dissolution of Britain's huge empire, the Brexit vote in 2016, and a pandemic. Her eldest son, who was named King Charles III hours after she passed away, succeeds her.&nbsp;

No government statements will be made until after her funeral, which will be observed with a public holiday in about 10 days. Her passing will be commemorated by a time of mournful ceremony. The monetary policy meeting of the Bank of England has also been postponed by one week.

The suspension of regular politics comes just days after Liz Truss, who was appointed Tuesday by the queen in her final act of public duty, became the next prime minister of the United Kingdom.&nbsp;

Truss takes office at 10 Downing Street as Britain experiences a period of unprecedented change.

Also Read:&nbsp;<a href="https://www.wionews.com/technology/queen-elizabeth-ii-was-more-tech-savvy-than-you-can-imagine-514608">Queen Elizabeth II was more tech-savvy than you can imagine!</a>

Hours before the queen passed away, Truss got to work revealing her strategies for addressing the UK's cost-of-living crisis. She unveiled a significant stimulus plan meant to assist Britons with their rising energy costs as a result of Russia's war in Ukraine.

The bleak picture coincides with mounting recessionary dangers for the nation. Similar to past predictions, the Bank of England could experience a recession in the fourth quarter of this year, cautioned Goldman Sachs last week.&nbsp;

Currently, Britons are preparing for a difficult winter for both their homes and their businesses.&nbsp;

The British pound has been falling over the previous few months and dropped to a 37-year low on Wednesday of $1.1469.

(with inputs from agencies)

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A new era for the United Kingdom has begun with the passing of Queen Elizabeth II — but one that is rife with waning national morale and economic insecurity. At 96, the queen was the longest-reigning monarch in British history.

A new era for the United Kingdom has begun with the passing of Queen Elizabeth II — but one that is rife with waning national morale and economic insecurity. At 96, the queen was the longest-reigning monarch in British history. She passed away "peacefully" on Thursday at Scotland's Balmoral Castle, hours after medical professionals had raised alarm about her failing health. Following the news, tens of thousands of Britons gathered outside Buckingham Palace amid the pouring rain to pay their condolences. The queen had come to represent rare stability in a world of continual change over her 70-year reign, which saw the aftermath of World War II, the dissolution of Britain's huge empire, the Brexit vote in 2016, and a pandemic. Her eldest son, who was named King Charles III hours after she passed away, succeeds her. No government statements will be made until after her funeral, which will be observed with a public holiday in about 10 days. Her passing will be commemorated by a time of mournful ceremony. The monetary policy meeting of the Bank of England has also been postponed by one week. The suspension of regular politics comes just days after Liz Truss, who was appointed Tuesday by the queen in her final act of public duty, became the next prime minister of the United Kingdom. Truss takes office at 10 Downing Street as Britain experiences a period of unprecedented change. Also Read: Queen Elizabeth II was more tech-savvy than you can imagine! Hours before the queen passed away, Truss got to work revealing her strategies for addressing the UK's cost-of-living crisis. She unveiled a significant stimulus plan meant to assist Britons with their rising energy costs as a result of Russia's war in Ukraine. The bleak picture coincides with mounting recessionary dangers for the nation. Similar to past predictions, the Bank of England could experience a recession in the fourth quarter of this year, cautioned Goldman Sachs last week. Currently, Britons are preparing for a difficult winter for both their homes and their businesses. The British pound has been falling over the previous few months and dropped to a 37-year low on Wednesday of $1.1469. (with inputs from agencies)

Will the era of Charles III be fraught with economic uncertainty, dampening national sentiment?

Analysts on Tuesday (August 9) said that the cap on domestic energy prices is expected to rise to over $5,089 a year in January 2023 in the United Kingdom. The potential increase is because of soaring wholesale costs.

Analysts on Tuesday (August 9) said that the cap on domestic energy prices is expected to rise to over $5,089 a year in January 2023 in the United Kingdom. The potential increase is because of soaring wholesale costs. Also, the changes in the way the cap is set would see prices up 230 per cent from the year before. If it happens, it will deepen the cost of living crisis as the latest forecast by Cornwall Insight spells more misery for millions of people. ALSO READ | UK issues new amber heat warning for England and Wales The analysts said that the cap on the most widely used household energy contracts is expected to rise by 82 per cent in October. It is based on the latest wholesale energy prices. If we cover both gas and electricity, the average annual household dual fuel bill will be around 3,582 pounds. Dr Craig Lowrey, who is the consultancy's principal consultant, said, "It is essential that the government use our predictions to spur on a review of the support package being offered to consumers." Cornwall also mentioned that the January forecast has been revised upwards following changes made to the way the cap is calculated by regulator Ofgem. ALSO READ | China property crisis forcing families to live in unfinished, dangerous flats Lowrey further said, "If the £400 was not enough to make a dent in the impact of our previous forecast, it most certainly is not enough now." "The government must make introducing more support over the first two quarters of 2023 a number one priority. In the longer term, a social tariff or other support mechanism to target support at the most vulnerable in society are options that we at Cornwall Insight have proposed previously. Right now, the current price cap is not working for consumers, suppliers, or the economy." The announcement comes days after the Bank of England's forecast that Britain will sink into a lengthy recession later this year as inflation rockets even higher. BoE also unveiled the biggest interest rate hike since 1995. WATCH | WION Dispatch: Sri Lanka power regulator approves 75% tariff hike × Britons say 'can't pay, won't pay' The Britons are reluctant to pay the hiked prices. As quoted by the Guardian, Josina, a teacher from Sheffield, said, "It's terrifying, especially with three teenagers in the house. They aren't old enough to be out working yet. They're relying on us, and it's a really scary thought that you potentially can’t provide for your children in that way." Josina has said that she is not going to pay her energy bill. The news report stated that she is a civil disobedience movement, becoming one of the thousands of activists to protest at the soaring cost of energy. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Britons say 'can't pay, won't pay' as energy prices to surge further in 2023