I’m pleased that the Chancellor’s statement sets out this Government’s support for those most impacted by the rise in the cost of household energy; caused by several international factors. This brings the total support, from central Government, to tackle the cost of living crisis to over £37 billion.
So, what does this announcement mean for people living across Morley and Outwood?
• A new £15 billion package to help those impacted most.
• An energy bills rebate which will give millions, across the United Kingdom, a rebate of £550 to help meet current energy prices.
• From today, the Government has launched a new targeted and temporary Energy Profits Levy on the profits of oil and gas companies, estimated to raise £5 billion over the next year.
• Unlike Labour’s plans for a Windfall Tax, this levy incentivises investment into new and future sources of energy.
• A £650 cost of living payment for every household on means-tested benefits.
• £300 payment for those in receipt of Winter Fuel Payment in November/December.
• £150 payment for those in receipt of disability support benefits.
• Investment of a further £500 million, into the Household Support Fund, to help hard cases to ensure that local councils can support those not covered by other sources of support.
