Chancellor Rishi Sunak announced a range of supports to try and help consumers facing soaring energy bills this year, as well as inflation in the wider economy. On Thursday, the Bank of England increased its forecasts for peak inflation yet again, admitting price rises are likely to reach 7.25% in April – after previously only expecting them to hit a height of 6% when they made the forecasts in December.
This left the chancellor needing to act, with the public already angry at his Government over a string of parties that took place in Downing Street over lockdown and has seriously damaged peoples trust in their leaders.
Sunak announced dual packages that could save households as much as £350, which included a £200 energy rebate paid by energy suppliers but directly funded by the Treasury and a £150 non-repayable cash rebate to people living in properties in Council Tax bands A to D, which amounts to 80 per cent of households.
Mr Sunak said: “The economy is stronger because of the plan we put in place; because of the actions we took to protect families and businesses. And that plan is working. But for all the progress we are making — the job is not yet done.”
He added: “Right now, I know the number one issue on people’s minds is the rising cost of living. And just as the Government stood behind the British people through the pandemic… we will help people deal with one of the biggest costs they face — energy.”
What do you think of the proposals outlined above? Do they go far enough to tackle the issue of rising energy costs for everyone? Let us know your thoughts in the comments below for the chance to be featured on the ES website tomorrow.
Wednesday’s Talking Point: Do the IOPC recommendations for the Metropolitan Police go far enough?
Darthdaver said: “First eradicate it from society, it begins with education at home. Officers are a by product of education. Like in any walk if life, some are great, some are not.”
