Cost of Living Increase: Impact on Households

Part of Treasury – in the House of Commons on 15th March 2022.

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Photo of Pat McFadden Pat McFadden Shadow Chief Secretary to the Treasury

The package on energy announced by the Chancellor last month has already been rendered obsolete by Russia’s invasion of Ukraine. Some estimates of average annual household energy bills suggest that there will be rises to £3,000 or even more from October. That is a ruinous figure for many of our constituents. Will the Chancellor revisit this support package in next week’s spring statement, and will he reconsider his refusal to fund help for hard-pressed households through a windfall tax on the enormous profits that oil and gas companies are making?