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Energy bill support would be based on household income, Reeves says
Rachel Reeves said support would go to lower-income households as wholesale oil and gas prices rise and bills are expected to jump later this year.
- On Wednesday, Chancellor Rachel Reeves announced that future energy bill support will be targeted at households based on income, rejecting universal payments. She indicated aid is unlikely before the autumn as ministers assess rising wholesale prices.
- Reeves aims to avoid repeating 2022 when "the richest, the best-off third of households got more than a third of the support." The government is preparing for various scenarios as the Iran war disrupts Middle East energy supplies.
- While Ofgem's price cap fell 7% to £1,641 on Wednesday, Cornwall Insight warns typical dual-fuel bills could soar by £288 this summer. Reeves acknowledged usage increases significantly from autumn onwards.
- Reeves refused immediate help for motorists, citing fiscal caution to avoid pushing up inflation and interest rates. She admitted it is "too early" to determine specific eligibility for future energy aid packages.
- Ongoing disruptions at the Strait of Hormuz continue to pressure global energy markets amid broader political pressure. The SNP and Conservative shadow chancellor Sir Mel Stride have called for alternative strategies to manage rising costs.
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UK finance minister Reeves says energy bill support will depend on household income
British finance minister Rachel Reeves told the BBC on Wednesday that any government support to offset the increase in energy costs caused by the conflict in the Middle East would be based on household income.
·United Kingdom
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Total News Sources12
Leaning Left2Leaning Right1Center8Last UpdatedBias Distribution73% Center
Bias Distribution
- 73% of the sources are Center
73% Center
L 18%
C 73%
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