What is Labour's plan to freeze energy bills?
Sir Keir Starmer has announced his plan to tackle the skyrocketing energy bills this winter, calling runaway domestic fuel a "national emergency". Labor leader would freeze Ofgem's energy price cap - the maximum amount utility companies can charge customers at standard tariffs, preventing further dramatic hikes planned for October and January.
He said 'wouldn't let people pay a penny more' and the policy would save families £1,000 a year, according to Labour's own calculations .
The £29bn needed would come from closing the 'absurd' loopholes of Rishi Sunak's windfall tax on oil and gas giants and backdating it to January (generating £8 billion), scrapping existing measures such as the £400 energy rebate promised by the former Chancellor (£14 billion) and bringing inflation under control, which would cut payments by interest on the additional £7 billion government debt.
“Millions of people are already struggling with their bills, we all know across the country and the rises expected in October... from a price cap of just under £2,000 to £3,500, then £4,200 and millions of people, millions of families saying 'I just can't afford it'," said Sir Keir at BBC Radio 5 Live on Monday.
RecommendedCost of Living – Live: Starmer talks about energy bill freezes 'double the benefit' for the public fuel bill freezes by extending windfall tax" height="56" width="82" layout ="responsive" class="i-amphtml-layout-responsive i-amphtml-layout-size-defined" i-amphtml-layout="responsive"/>Starmer pledges to freeze fuel bills by extending exceptional taxSir Keir Starmer has announced his plan to tackle the skyrocketing energy bills this winter, calling runaway domestic fuel a "national emergency". Labor leader would freeze Ofgem's energy price cap - the maximum amount utility companies can charge customers at standard tariffs, preventing further dramatic hikes planned for October and January.
He said 'wouldn't let people pay a penny more' and the policy would save families £1,000 a year, according to Labour's own calculations .
The £29bn needed would come from closing the 'absurd' loopholes of Rishi Sunak's windfall tax on oil and gas giants and backdating it to January (generating £8 billion), scrapping existing measures such as the £400 energy rebate promised by the former Chancellor (£14 billion) and bringing inflation under control, which would cut payments by interest on the additional £7 billion government debt.
“Millions of people are already struggling with their bills, we all know across the country and the rises expected in October... from a price cap of just under £2,000 to £3,500, then £4,200 and millions of people, millions of families saying 'I just can't afford it'," said Sir Keir at BBC Radio 5 Live on Monday.
RecommendedCost of Living – Live: Starmer talks about energy bill freezes 'double the benefit' for the public fuel bill freezes by extending windfall tax" height="56" width="82" layout ="responsive" class="i-amphtml-layout-responsive i-amphtml-layout-size-defined" i-amphtml-layout="responsive"/>Starmer pledges to freeze fuel bills by extending exceptional taxWhat's Your Reaction?