11-08-2022, 21:34
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#905
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laeva recumbens anguis
Cable Forum Team
Join Date: Jun 2006
Age: 68
Services: Premiere Collection
Posts: 43,760
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Re: The energy crisis
https://www.thetimes.co.uk/article/2...fa906ca19dc7c0
Quote:
Rishi Sunak has set out plans that he hopes would cover the total cost of rising energy bills for up to 16 million vulnerable people, as he challenged Liz Truss to follow suit.
In an article for The Times the former chancellor said he was prepared to find up to £10 billion to soften the impact of this October’s price rise on top of the support announced by the government in May.
Every household would benefit from a £200 reduction in their bills by abolishing VAT on energy, in a challenge to Truss, who has said only that she would consider the measures.
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https://www.thetimes.co.uk/article/r...able-jfx2n2gsj
Quote:
Today I can be very clear about the principles underpinning my approach, I can reasonably estimate what is likely to be required and I can explain how we pay for that. Firstly, there are three parts to my plan: support for the most vulnerable, support for pensioners and some support for everyone.
The first two groups will need the most help because these are people who simply cannot increase their incomes to meet their energy costs and are the most vulnerable in society. For them, we have an existing channel by which we can get money to them quickly: the welfare system.
Having explored all options, I know this is the quickest, most effective, targeted way of getting support to these groups of people.
It is tried and tested — the first payments have already gone out — and we can provide more support using those same channels, including the winter fuel payments and cold-weather payments.
It’s also important that we provide everyone with some help because of how drastic the price hikes will be. So my VAT reduction on energy bills will provide every household with around £200.
Secondly, on the scale of the challenge, it currently looks like the gap between price expectations when I announced the previous package of support and now is in the region of £400 to £500. When we know precisely what the increase is, I will come forward and confirm the exact level of support. At the moment, the gap — beyond the VAT reduction on fuel I’ve already announced — looks to be in the low to middle billions. But I’m realistic. It could be more.
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