politics

'Labour's fully-funded plan would save most families £200 off energy bills'


Rachel Reeves says the Labour Party has a plan that would make families save money. The package also includes a VAT cut on everyone’s home energy bills for a year from 5 to 0 percent

Woman checking her energy bills at home
Families could save money on their energy bills under Labour’s plan

Costs are rising. Energy bills are soaring. And working families are paying the price.

A decade of incompetence, dither and delay on energy have got us here.

Of course, there is a global gas price crisis. But Conservative failure to regulate, store gas, and make inroads on insulation, renewables and nuclear energy have left Britain uniquely exposed.

Labour has a fully-funded plan to give families facing rising bills security now.

Our plan would save most households around £200 off their bills – with up to £600 in total for those who need it most.

That package includes a VAT cut on everyone’s home energy bills for a year from 5 to 0 percent.







Rachel Reeves, pictured with Sir Keir Starmer, said Labour has a plan that would help households around the country
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Image:

Stefan Rousseau/PA Wire)

And it has extra help for the squeezed middle, those on lower incomes and pensioners, boosting the Warm Homes Discount and expanding it to 9 million households.

We’d pay for this with a windfall tax on North Sea Oil and Gas profits –companies that have had a booming year.

But we need to keep bills low in the future too.

That’s why a Labour government will make us rely less on imported gas by speeding up home-grown renewables and nuclear.

Our plan to make sure 19 million homes well-insulated will save households £400 every year on their bills.

And we’ll regulate the market better – pledging to never again let energy companies make promises they can’t keep.

When it comes to the energy crisis – as with so much else – the Conservatives have been asleep at the wheel.

Labour has a plan that would ease the crisis now.

But a Labour government will create the secure energy supply we need for the future too.

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