Tuesday, September 13, 2022

Rich to Get Twice as Much Cost-of-living Support, Says Think Tank

BBC: Rich households will receive twice as much support aimed at reducing the cost of living than poorer households next year, a think tank has claimed.

The Resolution Foundation said if the government cuts National Insurance and limits energy bill rises, richer homes will get support worth £4,700 in 2023, compared to £2,200 for the poorest.

A typical household energy bill will be limited to £2,500 annually until 2024.

The think tank said "details and costings" were missing from the plan.

Support for the richest tenth of households will "far exceed the level of support for the poorest tenth of households despite the latter being most exposed to high energy bills", the Resolution Foundation, which focuses on low to middle income households, said.

The huge support scheme could cost up to £150bn, but Prime Minister Liz Truss has refused to put a figure on it, saying "extraordinary times call for extraordinary measures". » | BBC | Tuesday, September 13, 2022