Steve McCabe MP for Birmingham Selly Oak has shared his concerns that the energy price cap, announced today, will see energy bills soar by 54% from April 1st.
Labour has expressed concern that the government’s mismanagement of Britain’s energy sector, for the past ten years, is a major factor in skyrocketing prices. Dozens of energy companies have gone bust, landing customers with higher tariffs and fewer options for those already struggling to make ends meet. Steve McCabe has heard from constituents who are already unable to afford the higher bills and says much more must be done to protect people against short term increases and reduce domestic consumption by improving insulation and other green measures if we are to avert a long-term crisis.
The Labour Party has suggested cutting VAT on fuel bills, as was promised by Boris Johnson as part of a Brexit dividend, and a windfall tax on North Sea oil and gas companies who have just announced huge profits. They also want to expand the Warm Homes Discount to include all 4.3 Million homes which are eligible and increase the budget to £4billion which would provide for a £400 discount.
Labour advises these measures would save most households around £200 or more and also provide financial support and relief to families across Selly Oak worth up to £600, offsetting the worst effects of the increase in energy bills. Labour also wants to reduce reliance on imported gas by accelerating home-grown renewables and new nuclear, and making sure 19 million homes are warm and well-insulated.
Steve McCabe MP has said:
“This winter has yet again seen families, older people and some of the most vulnerable in Selly Oak choose between heating or eating. Labour has a plan to reform our broken energy system and to keep bills affordable. It’s in stark contrast to the Chancellor’s plans which involve borrowing money to give to energy companies which he’ll recoup from taxpayers while turning a blind eye to the record profits of oil and gas companies.
I’ll be pursing this Government to ensure that families across Birmingham are not pushed into poverty through the Chancellor’s desire to put the interests of the oil and gas companies before ordinary consumers