Chancellor Nadhim Zahawi has admitted that the hovering vitality worth cap will trigger “stress and anxiety for many people” – however added that “help is coming” from the federal government.
This morning, vitality regulator Ofgem introduced the worth cap for a mean family will rise to £3,549 a yr in October, £800 greater than the forecast determine that was supplied to then chancellor Rishi Sunak in May.
Bills set to soar after worth cap announcement – dwell updates
Amid rising requires the federal government to behave to alleviate the burden on households, Mr Zahawi mentioned he’s “working flat out” to develop extra choices to help folks – however doubled down on his remarks that it could be for the subsequent prime minister to resolve what help to ship.
Either Liz Truss or Rishi Sunak will take up the position on 5 September.
“I know the energy price cap announcement this morning will cause stress and anxiety for many people, but help is coming with £400 off energy bills for all, the second instalment of a £650 payment for vulnerable households, and £300 for all pensioners,” the chancellor mentioned in a press release.
“While Putin is driving up energy prices in revenge for our support of Ukraine’s brave struggle for freedom, I am working flat out to develop options for further support.
“This will imply the incoming prime minister can hit the bottom operating and ship help to those that want it most, as quickly as attainable.”
Source: information.sky.com”