Sunak due to announce new financial measures, at 11am today.

Windfall taxes are a great idea this time but I doubt they can be replicated every year without repercussions to investors some of which might well be pension funds

The windfall tax is on excessive profits; dividends will have already been accounted for and, as I said in my previous post, the energy companies will get it back anyway by way of the money the government is giving to households. So I wouldn't worry about pension funds.

Cutting green investment is such a shortsighted measure. We need to be working to drastically cut our dependence on fossil fuels and that means serious investment in alternative energy sources. The money can be there if there is the political will to do it. We have a sovereign currency which is issued by the government. It cannot run out of money and it doesn't need to increase taxation to compensate.

I'm glad that poor people will be getting some help, but look at it this way:
The government are using taxpayers money (ours) to pay the inflated prices charged by energy suppliers. Most of the government ministers will have shareholdings in the privatised energy firms, so it's a neat way of siphoning our taxes straight into their back pockets.
Oh yes, and it might distract us from all the ghastly misdemeanours this mob of thugs and thieves is responsible for.

Sunak said several weeks ago that he was waiting for Ofgem to give an estimate of how much the energy cap was going to rise in October before he announced further measures. This has happened and further measures have been announced. Some people will never be happy, regardless of how much the government does. The "windfall tax" will raise far more than Labour's idea for one, and energy companies can offset some of this tax by investing more in UK gas, oil and renewables.

Disgusted by some of the comments regarding the £625 - I am one of the people who will get it (two instalments, half in July and half in the Autumn) and it will go towards clearing some of the bills I am behind on, NOT cigarettes and alcohol. This money is designed to help with the cost of living generally, as opposed to the £400 which will come directly off our energy bills. I for one am pleased about the amount of help being offered for those of us on low incomes - and almost everyone will get the £400 energy rebate so there is something there for the vast majority of people. Its been suggested that those who don't need the £400 could donate it to charity - I assume everyone gets it because means testing energy bills would be too complicated given there are a number of providers.

??????

Sums it up:

I'm afraid your first paragraph is just a paean to the Tory party Saetana

Its just bizarre, sorry. I'm always amazed by how gullible people are. Especially the ones who tell me I'm never pleased.

I thought parliament broke up on 27/5 - Mon 6/6/22 and that was the reason for the announcement on 26th, also only received the Ofgem report earlier in the week?? Obviously already looking at what they could do to help as can't just pluck figures out of the air overnight. Yes it is very close to the Sue Gray report but that couldn't be published until the police had finished their investigation. I would rather know now than wait another week or so to find out if help is coming. Did the UK cause the energy crisis and everything else thats happening at the moment?? I thought the situation was worldwide. I don't work but my husband has his state pension and a private pension of £700 per month so approx £1500 a month and were still paying a mortgage. I feel really sorry for young working families at the moment but not so much for people who just won't work to help themselves (I don't mean people who can't work just people who choose not to work and think they're entitled to a free life) I worked 46 years before giving up due to ill health (can't claim pension for another 2 years)we don't request help but we're not as bad off as some so the extra will be very helpful. I'm really interested in the pensioners who are only receiving approx £800 per month state pension as thought there was a minimum figure and then you can get help, eg "Pension Credit

You might get Pension Credit if you’re retired and on a low income.

You’ve already reached the Pension Credit qualifying age. Check if you’re eligible to claim Pension Credit" so was confuseed to see some pensioners are only living on the actual state pension with no savings? Surely there is help for them.

I think they had already worked out that they had to do something. Some people were getting to the point of actually becoming destitute.

But, I think the timing of the announcement was aimed at changing the headlines.

Cynical me....?

mollie11158

I thought parliament broke up on 27/5 - Mon 6/6/22 and that was the reason for the announcement on 26th, also only received the Ofgem report earlier in the week?? Obviously already looking at what they could do to help as can't just pluck figures out of the air overnight. Yes it is very close to the Sue Gray report but that couldn't be published until the police had finished their investigation. I would rather know now than wait another week or so to find out if help is coming. Did the UK cause the energy crisis and everything else thats happening at the moment?? I thought the situation was worldwide. I don't work but my husband has his state pension and a private pension of £700 per month so approx £1500 a month and were still paying a mortgage. I feel really sorry for young working families at the moment but not so much for people who just won't work to help themselves (I don't mean people who can't work just people who choose not to work and think they're entitled to a free life) I worked 46 years before giving up due to ill health (can't claim pension for another 2 years)we don't request help but we're not as bad off as some so the extra will be very helpful. I'm really interested in the pensioners who are only receiving approx £800 per month state pension as thought there was a minimum figure and then you can get help, eg "Pension Credit

You might get Pension Credit if you’re retired and on a low income.

You’ve already reached the Pension Credit qualifying age. Check if you’re eligible to claim Pension Credit" so was confuseed to see some pensioners are only living on the actual state pension with no savings? Surely there is help for them.

There is help for them. If they get Pension Credit, it is a gateway top up for help with other things.

Unfortunately, a lot of people don't know what they can and should be claiming.

They need to check what they might be entitled to:

benefits-calculator.turn2us.org.uk/

Thats the job of any opposition party, to make out they are pushing for things to happen when they know that usually they are already being looked at and usually foregone conclusions but need working out. Opposition can then take credit for their ideas? Anyway I'm not sure why we waste our time spouting and getting annoyed as at the end of the day the General Election is in approx 2 years so people can vote with their tick in the box they choose and I'm sure we will be hearing about party/beergate a lot more next year in the run up to the election. Not sure who I'm voting for yet, I'm a bit disillusioned at the moment, I was looking around at some of the party policies and trying to work out if I vote Lib Dems if they will actually get in, from what I can see in the newspapers people are hoping for a coalition of Labour/LibDems/Snp/Greens - (actually everyone but the Conservatives) imagine all of them fighting for their own policies and having to give in to each other as they've all joined forces, more green taxes (green party), more money and power for Scotland (SNP), legalising recreational use of cannabis for adults(Lib Dems), even higher taxes for the wealthy (Labour) remember higher taxes for the wealthy usually means higher ticket prices for football matches, concerts,theatres etc,etc. Might not bother!

I think, in the end, it might end up a Lab/LibD pact, which I think we had once before.

And, of course, in 2010, we had the Tory/LD coalition.

The Greens seem to be losing support, because of energy prices.

It might end up as an ABC election - anyone but Conservative.

Not sure the SNP would be that relevant to the rest of the UK.

The next election predicted will be end of 2023/beginning of 2024. A lot can happen until then.

Volver, I'm not actually praising the Tory party, you just want to believe that anyone who doesn't support your views is wrong! I'm not going to pretend I know what Saetana means if it is even a word, why don't you just say what you mean instead of trying to be clever? Everyone is entitled to an opinion without, we just don't have to always agree

I've had to read that twice but I think I've got it now.

paean: a song, film, or piece of writing that praises someone or something very enthusiastically.

dictionary.cambridge.org/dictionary/english/paean

I don't have to try to be clever, it just comes naturally.

I was shocked to read Sunak is giving his £400 to the poorer community. I didn't realise he was gifting to millionaires too.

Years ago the Labour Party in my area always worked very well with the LibDems. I found the Conservatives and LibDems very strange bedfellows. I do hope for a Labour/LibDem coalition of some kind especially as I have close links with both parties in my area.

A one off payment is not the right way, they should cap the fuel rises like France have done (4%) . The less well off will have absorbed this money well before winter accounts come in.

I expect itll be added to the winter fuel payment which is not means tested to ascertain those in real need.

From what I've read...the money has to be applied for...so anyone who doesn't want/need it...dont apply for it..

mollie11158
I'm really interested in the pensioners who are only receiving approx £800 per month state pension as thought there was a minimum figure and then you can get help, eg "Pension Credit

The new state pension rate is £740.60 a month mollie11158. Anyone who is in receipt of the full state pension does not qualify for pension credit. Pension credit is to top up any shortfall in state pension to the full amount. It’s certainly worthwhile applying if there is a shortfall in pension as even a couple of pounds of pension credit entitles the claimant to other benefits such as dental treatment, glasses, council tax rebate etc. They will also receive the £600 payment. But pensioners who don’t have pension credit will not receive the £600.

PS
I think I’m correct in saying that anyone who hadn’t already applied for pension credit prior to Rishi Sunak’s announcement will not receive the £600 even if their application is successful . However, it will be paid to any pending applications if they meet the criteria.

Is the £400 we are all getting (some a lot more if they have more than one house) going to be paid direct to the energy suppliers?

I am currently in credit, and resent very much my money being held by this vastly wealthy entity who will gain vastly from using all the £400s to play the money market on a daily basis and make even more from my money!

Whitewavemark2 from what I’ve read it will be credited to energy accounts and customers with a pre payment meter will receive a voucher.

www.bbc.co.uk/news/business-61592496

So my account will be showing a £400 credit, but the actual money will be squirrelled away to be invested on a daily basis by the energy suppliers.

They are going to make ridiculous amounts from our money.

I'm now wondering about that WWM2. For each of us its a real £400, so it must be going somewhere....

I get 5% on my credit balance on my fuel bills. Better than I'd get in the bank.

volver

I'm now wondering about that WWM2. For each of us its a real £400, so it must be going somewhere....

I get 5% on my credit balance on my fuel bills. Better than I'd get in the bank.

I get bugger all on my credit.

Who are you with? My Pure Planet went bust so I was stuck with Shell.

Ovo.

I'm very happy with them.

Ask me if I'm still happy in the summer when my fixed rate ends.