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As the Bank of England warned of a year-long recession by the end of the year, half the population is already desperately trying to cut the costs of running their households.
Anyone with a fixed rate deal will be protected from rate hikes until the end of their term. But around 1.8million fixed rate mortgages are scheduled to end next year.
DAILY MAIL COMMENT: If the Bank of England's forecasts are right, even tougher times are hurtling down the track for British families.
ALEX BRUMMER: Yet the idea that the UK is facing some kind of existential economic crisis, a return to the 1970s or even worse the depression years of the 1930s is, quite frankly, tosh.
TOM UTLEY: Do you ever feel the entire corporate world is out to rip you off? If so, don't worry. You're probably not suffering from paranoia,thc chances are you're absolutely right.