John Healey MP has called on the government to stop the energy price cap from going up in April.
Projections show that the cost of living crisis could worsen and the Labour Party has revealed new plans that would ease the pressure on household energy bills.
The party has a long term plan for clean power and a retrofit of households that could save up £1,400 off annual bills, not just for one year but for years to come.
Right now, Labour would be bringing in a proper one-off windfall tax on energy giants – something which the government has still failed to do – and spending that on a package of support for energy bills including:
- A new measure to pass on savings to households immediately, by stopping the energy price cap going up from April. Right now, government plans expose households to a major new spike in prices in April.
- A new “insulation jump start” – a pot of funding that the government could use right now to supercharge home insulation across the country, saving families hundreds off their bills.
- Ending the scandalous penalty imposed on prepayment meter customers, saying they will ensure customers do not pay more than those paying by direct debit, alongside a 3 month moratorium on the forced installation of pre-payment meters.
- Offering off-grid households equivalent support
Wentworth and Dearne MP John Healey said: “Some households across Rotherham and Barnsley are still looking at an increase of around 40% to their energy bills in April while energy companies continue to pull in record profits.
“Working people shouldn’t have to bear the brunt of a crisis that they did not cause.
“Labour would extend the windfall tax, closing the fossil fuel investment loophole, and taxing oil and gas profits at the same rate as Norway. By backdating this from the start of 2022 – when oil and gas giants were already making historically large profits – we can raise more than £13bn.
“A Labour government would pass those savings onto families immediately to keep energy bills down this year.”
It follows Labour’s call for the government to rule out a fuel duty rise at the Budget, if OBR projections show it’s affordable.
If there is additional headroom in the upcoming Budget, the party is calling for it to go towards the cost of living crisis as a priority, starting by ensuring that fuel duty will not rise in the Budget.