A number of significant financial changes are going to come into force in 2022, affecting millions of people.
The state pension, hourly wage and council tax will all be revised before the new tax year in April — but many of the increases will likely be outstripped by the cost of living as inflation levels soar.
Sarah Coles, senior personal finance analyst, at Hargreaves Lansdown, said: “2022 is a year of change, but not in a good way.
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“Most of the financial developments in the pipeline will leave us worse off by the time we struggle to the end of 2022.
The tax rises announced around the Budget will kick in, along with higher prices for everything from energy bills to rail fares and pub prices.
“It’s not all bad news though. Buried among the price rises are a few more positive changes, including the end of the loyalty penalty for insurance customers, lower water bills, and easing the admin burden for families of those who pass away.
“Unfortunately, for most of us, the bad outweighs the good, so we need to plan ahead and be…
