UK Cost of Living Still Affordable Despite TV Licence Hike

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Despite the proposed TV licence hike causing uproar, when property and other cost of living expenses are taken into consideration, the UK is still a relatively affordable place to live.

Currently, the UK is home to the fourth-highest TV licence cost when compared to 17 other European nations and even with the impending increase, this will remain the case.

While £154.50 a year does seem steep for the occasional bit of prime-time Attenborough, lettings management platform, Howsy, looked at how this ties into the overall cost of renting and how this cost of living compares to other European nations.

They looked at the average cost of renting, the cost of a TV licence, the average monthly spend on utilities and the average monthly cost of that all-important internet connection, and what this equates to as a percentage of net monthly earnings.

The research shows that all things considered, the UK is far from the most expensive place to live and ranks 13th out of the 17 nations included with 51 per cent of income required to cover these basic outgoing.

Only Austria, France, Germany, and Switzerland saw these costs account for a lower percentage of income, with Switzerland the most affordable of the lot coming in at just 33 per cent.

So if an increase in TV license costs is making you want to tune out, spare a thought for those renting in Montenegro. While the cost of a TV licence is one of the lowest, couple it with rent, utilities and internet and the basic cost of renting eats up 83 per cent of the average salary.

These costs also equate to between 70-79 per cent of income in Bosnia and Herzegovina, Poland, Albania, Slovakia, Croatia, Greece, and Portugal, with the Czech Republic, Slovenia, Ireland and Italy also home to a higher cost of living as a percentage of monthly income when compared to the UK.

Founder and CEO of Howsy, Calum Brannan, commented: ‘There is certainly an argument to be made about the relevance of a TV licence in an age where the majority of media consumed is done via additional channels to both live TV and more specifically the BBC.

‘However, when you consider it within the wider cost of living and what it equates to in relation to the earnings available, the UK is actually one of the more affordable places to get by in the rental sector.’

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