Ex-Chancellor Rishi Sunak has presented plans to deal with the cost of living crisis, among other things the abolition of VAT on energy, which would take £200 off each household’s bills.
He said he was ready to mobilize up to £10 billion on top of the support announced by the Government in May to help cushion the impact of October’s price hike.
Mr Sunak attacked rival Prime Minister hope Liz Truss for refusing to come up with detailed plans beyond cutting environmental taxes.
He told the Times, “You can’t heat your home with hope.”
Rishi’s plan comes as a new analysis predicted energy bills could top £5,000 next year, more than £200 above previous estimates.
Ms Truss has insisted detailed plans will have to wait until an emergency budget next month – but her camp has acknowledged she must support the poorest households directly.
Rishi previously said, “This winter is going to be extremely tough for families across the country and I have no doubt that more support is needed.
“As soon as we know how high the bills will be, I will act.”
But Ms. Truss’ allies accused him of flip-flopping, saying: “The question for Rishi is how he will fund these new promises.”
An ally said: “Three weeks ago he said more lending was inflationary. Has he changed his mind?”
Mr. Sunak insists one can instead find some cash on the back of the sofa to keep borrowing money.
He said: “In order to keep one-off loans to a bare minimum, I will first look for efficiency savings across Whitehall to support families directly.”
Deputy Prime Minister Dominic Raab lashed out at Truss this week, saying her plans to offer tax cuts to Britons were “election suicide”.
He warned: “If we go into the country in September with an emergency budget that is not up to the task at hand, voters will not forgive us as surely as night follows day, we will see our big party swoon The opposition falls into oblivion.”
https://www.the-sun.com/news/5983070/rishi-sunak-plan-cancel-out-energy-price-rise/ Brits would see savings of £200 a year on energy bills thanks to Rishi Sunak’s plans to offset price increases