Parliamentary Clip – MPs respond to Kwarteng’s Mini Budget
Chancellor Kwasi Kwarteng has unveiled the biggest package of tax cuts in 50 years. He said that this would be a “new era” for the UK economy. Income tax and the stamp duty on home purchases will be cut and planned rises in business taxes have been scrapped. Kwarteng scrapped Boris Johnson’s previous plans to […]
UK business’s energy bills to be capped
Business secretary Jacob Rees-Mogg has unveiled plans to help businesses face the cost of living crisis. Wholesale energy costs for businesses will be cut by up to half of their expected price through the winter months, the government has announced. The Energy Bill Relief Scheme will mean those on fixed-term contracts, agreed on or after […]
From the Commons – Truss announces energy price cap
Prime minister Liz Truss has announced that energy bills will be capped at £2,500 per household for the next two winters. She has also announced measures to help businesses in a similar way for the next 6 months. As expected, Truss rejected the windfall tax that those on opposite benches are calling for.
Truss rules out windfall tax on PMQs debut
In her first prime minister’s questions, Liz Truss has ruled out windfall tax as a solution for the cost of living crisis while energy company profits continue to soar. She told the House of Commons that she was “on the side of hard working people” and would tackle the issue instead by cutting tax, promising […]
Energy price cap raised by 80% to £3,549 from October
Households across the UK will face a steep rise in energy bill costs from October after industry regulator OFGEM raised the maximum that suppliers can charge to £3,549 a year. Speaking on the BBC Radio 4 ‘Today’ programme this morning, Jonathan Brearley, the CEO of Ofgem said, “I know this will be devastating for many […]
Labour unveils £29bn cost of living plan
Labour leader Sir Keir Starmer has outlined a cost of living plan that he would introduce if he were in-power to cushion the blow of the energy crisis. Branding the crisis as a “national emergency”, Labour said it would scrap the £400 cost of living payment and freeze electricity and gas bill prices at their […]
Energy crisis emergency is as large-scale as the pandemic say the TUC
The energy crisis is “an emergency of pandemic-scale”, according to a leading union body. The Trades Union Congress has today warned that energy bills will cost more than two months pay if nothing is done. Average take-home pay after tax is expected to be £2,054 per month, while annual energy bills are predicted to cost […]
‘Free rail travel could help beat back the cost-of-living crisis and save the planet’
Last month, Spanish Prime Minister Pedro Sánchez announced a wide range of policies to tackle the rapid inflation in the country which has now surpassed 10 per cent. Among the most innovative and potentially impactful of them was his announcement of free rail journeys. The scheme will see free rail tickets issued from September 1 […]
Cost of living crisis threatens Homes for Ukraine scheme
The cost of living crisis is impacting people’s willingness to partake in the Homes for Ukraine Scheme, according to new data from the Office for National Statistics. 21% of current or previous sponsors said the rise in cost-of-living had impacted their ability to provide support “quite a lot” and 9 per cent said it had “very much” harmed […]
Cost of living payments: why we need to start talking about larger families
Last week, over 8 million households received their first of two cost of living payments, a long overdue recognition by the government that, while the cost of living crisis is affecting us all, its impacts remain profoundly unequal. Households on means-tested benefits will receive £326 directly into their bank accounts, with a further payment of […]
