Energy bills: Boris Johnson told to 'get rid of the levy!'
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Former Chief Secretary to the Treasury Michael Portillo insisted stopping loans to energy companies would greatly help struggling Britons to cope with the increasing cost of living. Energy prices for millions of British households are set to soar from April after the energy regulator said it would increase its price cap by 54 percent. Mr Portillo also described ways to naturally have lower energy bills.
Mr Portillo told GB News: “Part of the controversy of the Tory Party is that part of your energy bill is a green subsidy.
“It’s passed over to energy companies to subsidise and so on, and many Tories are saying, look instead of giving loans to energy companies and increasing taxes, which they’re going to do with the National Insurance at the moment, why don’t you get rid of the levies in the first place?
“Because then people would naturally have lower energy bills, that’s a big, big decision because it would mean a big change in the green agenda.”
UK’s leading Money Saving Expert Martin Lewis gave advice to Brits via his Youtube channel on how to address the growing costs.
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Mr Lewis said: “All I could give you in October 2021 was a crossed-fingers piece of advice. And that was: treat the price cap as a six-month fix.
“The price cap is a misnomer – it’s not really a cap on your prices, it’s a cap more like on the unit rates of energy.
“And we knew they were locked in until at least April 1, 2022, so that’s a six-month fix.
“And in that time, I said let’s hope things get better, cheaper deals come back, and you’ll be able to lock in cheaper in the future, so there’s no point in paying more now.
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“Well, looking back, it hasn’t got better, hope didn’t materialise, it’s got worse and worse and worse.”
Chancellor of the Exchequer Rishi Sunak announced that support measures will be in place to help already struggling families in the UK, as they battle the increased cost of energy prices.
Mr Sunak and Prime Minister Boris Johnson have faced much backlash from the British public and MPs alike due to the now confirmed increase in national insurance, which will rise in April by 1.25 percent.
Mr Sunak addressed the Commons: “For all the progress we are making, the job is not yet done. We will help people deal with one of the biggest costs they now face – energy.
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“Without Government intervention, this would be very tough for millions of hard-working families. The Government is going to step in to help people manage those extra costs.”
The Ofgem announcement on the rise in energy prices was supposed to be next week but the company decided to make the announcement early due to growing fears around the increase in pricing.
The chief executive of Ofgem, Jonathan Brearley said: “We know this rise will be extremely worrying for many people, especially those who are struggling to make ends meet, and Ofgem will ensure energy companies support their customers in any way they can.
“The energy market has faced a huge challenge due to the unprecedented increase in global gas prices, a once in a 30-year event, and Ofgem’s role as energy regulator is to ensure that, under the price cap, energy companies can only charge a fair price based on the true cost of supplying electricity and gas.”
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