Today the Chancellor set out his long awaited #Budget2023
With millions of households still struggling to pay their energy bills and make ends meet, this was an opportunity to lay out a meaningful long term plan to fix the UK's broken energy system.
So how did it stack up? 🧵⬇️
While the extension of the Energy Price Guarantee at current levels for 3 months is welcome...
...@eciuuk have calculated that all households will still pay £285 more for energy bills in 2023/24 than they did this winter 💰📈
The Chancellor also missed a vital opportunity to deliver much needed additional support to the 7.5 million households who will still be living in fuel poverty from April 🏠
Or address the issue of tackling the UK’s £2.7bn household energy debt 💷
Committing to end the higher premium paid by customers on prepayment meters is a welcome step...
...However, the 4 million households on PPMs have been penalised for years and should be compensated ✊💰
The PPMs premium has also highlighted how unfair the energy market is ⚖️
Standard credit customers now pay £202 more for their energy & some regions pay 7% more for their electricity 📍
No new announcements were made on home upgrades, despite the facts that:
❌ The UK still has the leakiest homes in Europe
❌ Insulation rates are falling by 55% year on year
❌ And there is home retrofit underspend ⬇️
We cannot afford to wait for a properly funded programme of home upgrades, to boost energy efficiency, reduce energy waste, and bring down bills permanently 📉
Recent #WarmThisWinter polling showed 84% of respondents back more support for home insulation
Govt still needs to remove the barriers to rolling out more cheap energy like onshore wind & solar, instead of focusing on more expensive tech like CCS + nuclear.
📊 85% of respondents to our YouGov poll agreeing more homegrown renewable energy would improve UK energy security.
The #Budget2023 was a chance to close the loophole in the windfall tax, estimated to cost the UK public almost £11 billion 💷
↪ The govt must rapidly transition away from expensive oil and gas, and stop subsidising more drilling.
If the Chancellor wants to boost growth, the UK needs a long term plan for permanently tackling the ongoing crisis of unaffordable energy bills 🧾
Join us on April 1st, alongside your local MP, to demand that Government ensures every household can stay warm every winter ⬇️