IMF Criticises Kwarteng Again over Tax Cuts and Energy Package

THE GUARDIAN: Fund says chancellor’s measures have made Bank of England’s battle against inflation more difficult

Kwasi Kwarteng has come under fresh fire from the International Monetary Fund after the Washington-based organisation said his tax cuts and energy support package had made the Bank of England’s battle against inflation more difficult.

The IMF used its prestigious world economic outlook (WEO) to criticise the scale of the stimulus provided by the chancellor and the blanket nature of the price cap on gas and electricity bills.

It said the UK was on course for a sizeable slowdown in growth from 3.6% this year to 0.3% in 2023 but said its forecasts had been made before Kwarteng delivered his mini-budget on 23 September. » | Larry Elliott in Washington | Tuesday, October 11, 2022

Liz Truss to Freeze Energy Bills at £2,500 a Year Average, Funded by Borrowing

THE GUARDIAN: PM announces £150bn scheme and resumption of fracking as she pledges to tackle root causes of crisis

Liz Truss will freeze energy bills at an average of £2,500 a year for two years from 1 October, and has pledged to tackle the root causes of the problems in the UK energy market through plans to increase supply, including the resumption of fracking.

The government will fund the scheme to reduce the unit cost of energy through increased borrowing. The cost is likely to be about £150bn, although Whitehall sources said estimates would not come until a fiscal statement from the chancellor, Kwasi Kwarteng, expected later this month.

The so-called energy price guarantee will limit the price suppliers can charge customers for units of gas. Truss will temporarily remove green levies worth about £150 a year on average from household bills. Her scheme will cover England, Scotland and Wales, but something similar is expected to follow in Northern Ireland. » | Jessica Elgot and Peter Walker | Thursday, September 8, 2022

NHS Bosses Warn ‘Unprecedented’ Risk of Death from Cold Weather and Soaring Energy Bills

Aug 19, 2022 In a letter to ministers, the NHS Confederation and 100 health leaders have warned of an “unprecedented” risk of death from cold weather unless more is done to help people pay soaring energy bills. It outlines the stark choice that will be faced by those struggling - eat or freeze.

Boris Johnson Says UK Energy-bill Support Package Is Not Enough

THE GUARDIAN: PM fuels Tory leadership dispute by saying UK will need to find more cash to help with surging bills

Boris Johnson said more support would need to be provided by winter. Photograph: Oli Scarff/AP
Boris Johnson has acknowledged that the package of support to help people pay surging energy bills is not enough, as the split deepens between Rishi Sunak and Liz Truss over how to deal with the crisis.

Amid forecasts that energy bills could hit £5,000 a year by next April, the prime minister made clear that he expected his successor to act.

Asked if the current package of £400 off bills, rising to £650 for vulnerable households, was enough, Johnson said: “No, because what I’m saying what we’re doing in addition is trying to make sure that by October, by January, there is further support, and what the government will be doing, whoever is the prime minister, is making sure there is extra cash to help people.” » | Rowena Mason, Deputy political editor | Friday, April 12, 2022

UK Energy Bills 'to Top £5,000 in January'

Aug 11, 2022 British households face average energy bills surging above £5,000 next year, according to the latest forecast by the energy consultancy Auxilione.

The warning follows a steep rise in wholesale gas prices - and came as the Prime Minister attended a meeting with the electricity sector in Downing Street. That meeting failed to produce any immediate concrete help for struggling households.


This USELESS government needs to be kicked out of office as soon as possible. Brexit has been a disaster. BoJo has been a disaster. Liz Truss will/would be a disaster. As will/would Rishi Sunak. This country is falling apart. – © Mark

Dominic Cummings Says Don't Pay Campaign Could Be HUGE

Energy Bills: Rishi Sunak Gives One-off £200 Discount to Households

THE GUARDIAN: Most consumers to get additional support from £150 rebate on their council tax amid cost of living crisis

A one-off £200 discount and a rebate on council tax bills have been announced by Rishi Sunak in a £9bn package designed to “take the sting” out of a £700-a-year rise in the average household’s energy bills in April.

The chancellor said 80% of households would receive £350 in support this year in response to the decision by the energy regulator Ofgem to raise its price cap to just under £2,000.

In an attempt to mitigate Britain’s cost of living crisis, Sunak said all households would receive £200 off their energy bills in October – but then pay the discount back by £40 a year for the subsequent five years.

The chancellor said council taxpayers in England in bands A to D would receive a rebate of £150 from their bills in April, which will not have to be paid back. » | Larry Elliott | Thursday, February 3, 2022

British households face record 54% energy bill rise as price cap is raised: Move by Ofgem means millions likely to be driven into fuel poverty unless government acts to ease cost of living crisis »