Rishi Sunak to cut energy bills by £400 with windfall tax on oil and gas firm
RISHI Sunak is braced to give every household in Britain hundreds of pounds off their energy bill to help with the cost of living crisis.
, who is expected to announce the plans in the House of Commons tomorrow, could reportedly cut bills by £400 with a windfall tax on oil and gas firms.He will scrap plans for a “rebate and clawback scheme”, which would have given people a £200 discount on their bills from October,Mr Sunak will instead convert the effective loans - which would have been paid back in heftier bills later - into grants given to energy companies to dish out.
The Times reports the value of the discount could be increased to as much as £400, with no need to pay the sum back. The plans, which could set the Government back £10billion, will form part of a “mix and match” package with a series of measures to help the most vulnerable cope with soaring energy bills as well as inflation.
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