Conservatives have 'woken up' to Labour policies says Lammy
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Labour MP David Lammy has suggested that the new Prime Minister appears to be delivering on her pledge to solve the crisis of soaring energy costs. In her speech outside Number Ten, Liz Truss said: “I will deal hands-on with the energy crisis.” The new Tory leader is expected to introduce a package of emergency measures to address the spiralling cost of bills, including a temporary freeze to the energy price cap.
Speaking on Times Radio, the opposition MP said: “It looks like Liz Truss and the Conservatives have woken up to what we’ve been arguing for, for months.”
Mr Lammy continued: “The big question, of course, is how are they going to pay for it?
“Are they going to go back to North Sea oil and gas which is our proposal?
“Or are they going to come up with a scheme that means that the consumer, the general public, pays through their bills over a longer period?
“We believe that those with the broadest backs should bear the broadest burden and that’s why it is important that you look at the profits of North Sea oil and gas.”
The Labour Party have proposed a £29 billion plan of economic measures to prevent rises in energy costs over the winter period.
The package would be funded by placing an additional tax on the profits of North Sea oil and gas providers.
Labour has also claimed their proposal would bring inflation down by four percent and help manage energy costs in the future by insulating the country’s coldest homes.
However, the plan has come under scrutiny for its apparent neglect of small businesses who are faced with eye-watering bills as Labour has focused on domestic consumers.
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The Conservative Government is tipped to announce a plan for energy costs on Thursday which is expected to include a freeze on bills.
Reports suggest the typical energy bill could be capped at around £2,500, far lower than the October energy price cap rise to £3,549.
It is unclear exactly how long the measures could last, but the package of support is expected to cost around £100 billion.
The Tory Government has not yet declared how the plan will be funded, but the new Chancellor Kwasi Kwarteng has suggested he would be prepared to borrow funds to support the country through this period of economic recovery.
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Businesses across the UK are expected to be offered some level of support in Thursday’s announcement.
Unlike domestic customers, businesses are not protected by the cap on energy prices, leaving them especially vulnerable to fluctuations in the market.
It has been reported that Ms Truss is in talks to reveal a £40 billion package focused on supporting domestic businesses, although the specific details remain unclear.
The additional support pledged to businesses has been a notable factor in separating the Labour and speculated Conservative plans to tackle the energy crisis.
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