As the UK economy continues its recovery from the pandemic, the Conservative Government have stepped in to confront the global inflationary pressures caused by the world economy coming swiftly back to life.
• With Ofgem announcing a £700 rise to the Energy Price Cap, the Conservative government have announced a three-part plan to help with household fuel bills immediately – worth £350 per household, in a total package of support worth £9.1 billion.
This Government support will ensure the adjustment to higher prices is smaller and spread over a longer period – supporting households along the way.
Suella has welcomed the plans from the Conservative Government which will mean 37,148 households across Fareham are set to be supported with a £150 non-repayable cash rebate. This is just part of the support put in place, with plans worth up to £350 per household across Fareham in total, as part of the £9.1 billion package of government support to help with rising energy bills.
As the UK economy continues its recovery from the pandemic, the Conservative government are confronting the global inflationary pressures caused by the world economy coming swiftly back to life. Although, there are limited levers the government has to deal with these global problems – the Conservative Government have already taken steps to support families.
These measures include reducing the Universal Credit taper rate, increasing the National Living Wage, freezing fuel duty for the twelfth year in a row, and launching a £500 million Household Support Fund to help the lowest-income households with their bills. Following Ofgem’s confirmation that the energy price cap will rise by £700 from April, the Conservative Government have announced this three-part plan to help with household fuel bills immediately and protect people against half of this increase.
Support includes:
• A £200 ‘smoothing’ rebate on energy bills for all households, to be paid back over the next five years at £40 per year – starting from April 2023
• A non-repayable £150 cash rebate for homes in Council Tax bands A-D – equivalent to 80 per cent of all households, helping both lower and middle-income families
• £144 million of discretionary funding for local authorities to support households not eligible for the council tax rebate Measures also include continuing with plans to increase the Warm Homes Discount and extend eligibility by onethird to 3 million vulnerable households, worth £150.
Commenting, Suella said:
“Global pressures have led to households across 37,148 feeling a squeeze on their household costs, so it is right that the Government have come forward with this support. “These measures will help 37,148 households across Fareham with council tax bills, as well as a £200 rebate on energy bills for all households, on top of pre-existing measures to support families, such as the Warm Home Discount scheme. “This will deliver support to more people and a faster pace – giving families the support they need now.”
Chancellor of the Exchequer, Rishi Sunak, said:
“Right now, I know the number one issue on people’s minds is the rising cost of living. “That’s why the Government is stepping in with direct support that will help around 28 million households with their rising energy costs over the next year. “We stood behind British people and businesses throughout the pandemic and it’s right we continue to do that as our economy recovers in the months ahead.”
