Hunt's scaling back energy cost help already!

I’m not an expert or an economist but I am not surprised. Promising anything for two years hence, while attractive (and presumably designed to gain support for Truss in her leadership bid) was always risky. Who knows what is going to happen world wide even in the next year.

It was a (nother) case of Truss promising “jam tomorrow”.

Hasn’t it been projected by independent experts that the price of gas is set to reduce by next spring? £60 a month per household towards energy bills after April next year does seem rather profligate under those circumstances and it’ll be ‘under review’ then anyway.

He said it is guaranteed until April, and will be reviewed then and targeted to those in need, not given to everyone as it is now, including multi-millionaires. (Not sure how this will be means tested)

The cost of Government borrowing has dropped, Banks, House Builders and other shares have gone up.

The City likes the Chancellor’s statement.

There is an announcement in parliament at 15.30 today.

I may be flamed for this, but Hunt’s address today was the first time in weeks I have felt anybody in the Conservative government had the slightest scooby about what they were talking about!
He projects well - let’s hope he can put his money (oops our money) where his mouth is.

I agree Maw it felt like there was a grown-up in the room

I think Liz Truss answered pretty much every question with "Labour would only guarantee energy price cuts for six months we will do it for two years" at PMQs last week.
Oh dear.

Personally I think that is a good idea, on one hand you have to help the needy, those already on benefits, but those that can afford it should pay more themselves.
The Covid Compensation was very wasteful and led to widespread fraud with loans taken they had no intention of paying back.

Totally agree about Hunt. Who I've never been keen on at all. He looks and sounds as if he knows what he's doing.

I don't vote Conservative but feel this is a good move and we can hopefully forget about Truss with her pork markets in Beijing.

www.youtube.com/watch?v=srHNcNoEJ9g

And did she really say that it was a disgrace that we imported two thirds of our cheese?!

Why is it a disgrace?

Kate59
very wasteful isn’t the term I’d use ? More like f&£#@*g obscene.

The help was always far too broadly targeted at the entire population. There was no effort to encourage people to save on fuel but just go on using it as before.

One answer would be to put in a tiered program of help with a basic allowance targeted at an "average" household. Then the cost of using more would rise incrementally and steeply. This would ensure that people who use more than average pay a higher rate and encourage them to cut down. There would be special allowances for the vulnerable such as the elderly, disabled and those who need to use medical equipment at home.

What Maw said.

GrannyGravy13

I agree Maw it felt like there was a grown-up in the room

I said that exactly gg13

Zoejory
I would imagine that Hunt is closer to the pork markets in Beijing than Liz Truss. He is Patron of The conservative friends of the Chinese.

I think Liz Truss answered pretty much every question with "Labour would only guarantee energy price cuts for six months we will do it for two years" at PMQs last week.

She mentions it in her responses to almost every question she’s asked regardless of whether it’s relevant. A bit like Johnson and his “vaccine rollout” and “got Brexit done”.

I wonder if she’ll survive till the next PMQ. The thought of the humiliation she’ll face there on Wednesday might help her decide to resign in the next 24hrs.

I don't have a problem with it per se. I agree that April is a good time to at least review the situation, and to target help. What Hunt is proposing is what should have been offered originally.

However, I do have an issue with such a sudden about-turn, because there will be people who have already made or delayed financial decisions based on the timescale of the help that had already been promised.

The blame still lies squarely with Truss and Kwarteng though. They've left quite a mess to be dealt with!
(Silly me, I momentarily forgot that Truss is still Prime Minister - though probably in name only, and hopefully not even that for much longer.)

I feel so sorry for her children.
They face a very public humiliation of their mother.
It will be dreadful for them.
We all know what teenagers are like for “rubbing it in”.

How is Truss going to stand up in parliament and defend this? It's just not credible. What a farce.

But, reportedly, she has a very thick skin.

But even a crocodile has a soft belly.

It will be austerity next.. Look forward to hearing whether he mentions it in his statement to Parliament this afternoon.

Austerity will finish us off...

MawtheMerrier

I may be flamed for this, but Hunt’s address today was the first time in weeks I have felt anybody in the Conservative government had the slightest scooby about what they were talking about!
He projects well - let’s hope he can put his money (oops our money) where his mouth is.

I agree. But we must all remember all he’s doing is undoing the damage done by his own party!

MayBee70

MawtheMerrier

I may be flamed for this, but Hunt’s address today was the first time in weeks I have felt anybody in the Conservative government had the slightest scooby about what they were talking about!
He projects well - let’s hope he can put his money (oops our money) where his mouth is.

I agree. But we must all remember all he’s doing is undoing the damage done by his own party!

by his own party most reports have said that the mini-budget was KK and LT’s brainwave and that it was not put to or agreed with by cabinet members or the majority of Conservative MP’s

Hasn’t it been projected by independent experts that the price of gas is set to reduce by next spring?

Very optimistic! Call me a cynical old bat but I think, even if the global energy price falls, there’s no way that decrease will be passed on to us, the consumers. I have no faith in the honesty and integrity of energy providers - their main aim is to continue to make huge profits for their shareholders. They will leave the price we pay for gas / electricity high!

I thought it was always only intended to be until April. £400 spread over 6 months.

But we must all remember all he’s doing is undoing the damage done by his own party!.

Absolutely! And just because he ‘projects well’ doesn’t make him any less dangerous than Johnson & Truss - less idiotic perhaps but equally as disastrous for the country. I fear that people will become readily drawn in by his smooth, safe pair of hands persona, and forget that he is still in the same ‘snake pit’ as Truss, Johnson, Cameron! He was a disaster as Health Minister!