The people who stand to gain most from the policy are those who spend the most on bills, and they tend to be wealthier and living in larger homes.
However, the Resolution Foundation has now estimated that the energy price freeze, combined with Truss’s planned cut to National Insurance, will mean that the richest tenth of UK households could receive £4,700 in support in 2023. The poorest tenth, meanwhile, would only receive £2,200.
“Last week, the prime minister announced a simply colossal energy support package to prevent a living standards catastrophe thisLiz Truss has been named the UK’s next prime minister – but what happens next? Paul Johnson, the director of the Institute for Fiscal Studies, previously stated that the plans to tackle the cost of living crisis were “very poorly targeted”.Everything you need to know about the government’s cost of living support packages and when you’ll receive it
to tackle the cost of living include a £400 energy bill discount for each household , a £150 council tax rebate and a £650 payment made in two instalments to households on means-tested benefits.“The Energy Price Guarantee means that from 1 October a typical UK household will now pay an average £2,500 a year on their energy bill for the next two years.
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