Antony has welcomed the Government’s £94 billion cost of living package and extension of the Energy Price Guarantee at £2,500, which will support families across Burnley and Padiham.
The Energy Price Guarantee (EPG) will remain at £2,500 for another three months, saving the typical family £160 on their energy bill until prices are forecast to fall. The extension means the typical household will have saved £1,500 on their energy bills since 2022 thanks to Government support.
Further announcements on energy security saw the Chancellor placing energy security at the heart of the budget with the establishment of Great British Nuclear and a nationwide competition to push Small Modular Reactors.
Local MP Antony Higginbotham who has spoken about energy support and security in Palriament said:
I’ve said before that the reason for high energy prices might be global, but they are having an impact on local families and it’s right that Government steps in to help.
Whilst the Energy Support Scheme will continue to cap bills for residents over the next 3 months, at which point energy costs are expected to start falling, I really welcome the launch of Great British Nuclear, and the competition for Small Modular Reactors. Because this is the longer-term approach that we need to ensure we never find ourselves in this situation again.
For too long our energy security has been taken as a given but as we’ve seen with Russian aggression on the international stage, generating our own energy should not be a loose aim but an absolute priority. For families and business right across Burnley and Padiham.
The Chancellor also announced the end to the premium paid by households using prepayment meters in Burnley and Padiham. This will be achieved through adjusting the EPG from the 1 July to bring prepayment metered customers in line with the EPG until it ends in April 2024.
The EPG extension builds on the generous cost of living support confirmed at the Autumn Statement 2022. This includes up to £1,350 of support for households in 2023-24: £900 for households on means-tested benefits; £300 for pensioner households and £150 for disability benefit claimants. The Autumn Statement 2022 also confirmed a boost to the Household Support Fund, bringing the fund to over £2.5 billion.
The Chancellor also announced fuel duty will be frozen for a thirteenth consecutive year, saving the average driver around £200 since the 5 pence cut was introduced.
These measures will help families deal with household costs as the Government delivers on its promises to halve inflation, grow the economy and reduce debt – improving living standards for everyone across the UK.
Commenting, Chancellor of the Exchequer Jeremy Hunt said:
A recovering economy will mean reduced inflation and lower mortgage rates, more affordable food and energy, and support for the NHS so people get the care they need more quickly.
As we deliver on our promises to halve inflation, grow the economy and reduce debt we are helping families with the cost of living immediately.
And with a stronger economy, we will be able to strengthen communities and level up left behind areas, seize the opportunities of Brexit, protect Britain’s long-term interests and restore pride in our country.
