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Originally Posted by Paul
Freezing energy it at the current level looks a little unrealistic.
Perhaps aim for middle ground, say £2500, a 25% rise is a lot better than 80%.
Also, rather than just cut taxes (as in the % rate) why not just raise the 'free' allowances.
The current 'Personal Allowance' is £12,570 - if you increased it to say £17,570 then anyone on minimum wage (£8.91/hr) would not pay tax.
That would be worth just over £80 a month to people, and be easy to implement.
You could also raise the rate for very high earners (50K plus) to help pay for it.
I realise this all sounds very labour like, but there has to be some kind of plan in place.
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I saw this idea on Twitter:
https://twitter.com/TorstenBell/stat...87390452035586 from the Chief Executive of a think tank.
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Think about it this way, the typical energy bill in January could be £600. Those on direct debits can spread that, but 4m households on prepayment meters (30% of the poorest fifth) have to find the cash. I hope people realise they can’t (it’s half their disposable income)
Here's an example: a 30% bill cut for everyone + a 1% increase in all income tax rates would see the large costs of £23.5bn offset by a £9.5bn tax increase with 60% paid by the top fifth
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