Dear Resident,
I hope you are well.As Parliament is set to return next week, perhaps the most important intervention the Government has taken to tackle the rising cost of living came into effect.
From 1 October the Energy Price Guarantee (EPG) is providing certainty for people with their bills by discounting the unit cost for gas and electricity. This means, that a typical household will pay no more than £2,500 per year for each of the next two years.
On top of this, the Government will also begin paying out the first instalment of the Energy Bills Support Scheme this month, which is cutting £400 off people's energy bills over the next six months. Add to this the £150 Council Tax rebate given to all ratepayers living in A-D Band properties early this year, it is clear that the Government has taken decisive action to help people with the rising cost of living.
For the next six months, the Government has also committed to supporting businesses and other organisations, including charities, too. Through the new Energy Bill Relief Scheme, the Government will provide a discount on wholesale gas and electricity prices for all non-domestic customers.
These actions are important because energy prices more than anything else are the underlying cause of the high inflation we are currently experiencing. The Government understands this. It has taken significant steps to help people through the winter.
Looking further ahead, the Prime Minister outlined some of the further steps the Government will be taking in the medium term to help people with the cost of living and grow our economy in her speech at the Conservative Party Conference. You can read a transcript of it here.
Have a good weekend!
Yours,
Greg Hands
The Rt Hon Greg Hands MP
Member of Parliament for Chelsea & Fulham
You can read the rest of this edition of Greg's bulletin here.
