IN October, energy bills are predicted to soar to £2,800 a year on average – that’s a rise of more than £1,600 a year in just 12 months. Earlier this week, the Chancellor Rishi Sunak announced a ne…
And another £500million has been added to the Household Support Fund, which is dished out by local councils.. Thousands of payments have been paid but councils have until October to distribute the cash.This was a loan which households would have to repay. However, he has decided to turn it into a grant and increase it to £400.This is a one-off levy placed on companies by the Government.
In this case, it targets energy suppliers who have enjoyed sky-high profits as a result of surging global commodity prices, while customers struggle with rocketing bills. But to ease the pain, he is offering tax relief to firms investing in oil and gas extraction in the UK. The money raised from the tax will be handed back to struggling households.WHY are energy bills going up again? I thought wholesale prices were down?
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