The new UK Prime
Minister, Liz Truss, has announced plans in the commons today to limit energy
bill rises for all households for two years to help millions of people falling
into hardship this winter.
A typical household
energy bill is to be capped at £2,500 annually until 2024.
Businesses will
receive support for six months.
Watch video
version on YouTube… https://youtu.be/0QN67xFYGN0
The huge support
scheme could cost up to £150bn, although the total cost will depend on future
wholesale fuel prices.
The energy price
cap - the maximum amount suppliers are allowed to charge households for every
unit of energy - was due to leap to £3,549 in October, a move which would have caused
widespread fuel poverty.
Under the Liz Truss
scheme, the government will compensate energy firms for the difference between
the wholesale price for gas and electricity they pay and the amount they can
charge customers.
The government will
suspend green levies - which add £150 to bills each year - which the £2,500 cap
accounts for.
A previously
announced £400 energy bills discount for all households will go ahead. Taken
together, the government said this "will bring costs close to where the
energy price cap stands today".
Most people’s bills
are still double where they were before the Russian invasion of Ukraine, but
would have soared if the price cap was lifted again next month.
Why do so many
people depend on government aid?
The majority of
working people have no savings and live month-to-month throughout their lives.
Retirement planning
is woefully inadequate which means millions of pensioners are dependent on the
state to make ends meet.
According to the
DWP report in August 2019:
·
20 million people claiming DWP benefits.
·
Two thirds of benefit claimants, or 13 million, are
of State Pension Age.
·
The number of people receiving State Pension has
fallen to 12.6 million partly due to the retirement age being pushed back.
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