London, United Kingdom (CU)_ Rishi Sunak, the British-Indian UK Prime Ministerial contender, unveiled a new strategy to lower energy bills in order to combat growing home expenses. According to Sunak’s statement, a reduction in the value-added tax (VAT) would result in savings of around £200 for each household on their energy bills.
Non-profit organizations are repeatedly warning that millions of Britons might be pushed below the poverty line as the United Kingdom prepares for increased energy costs that could more than treble this year. Accordingly, the only way to prevent this is for the government to establish a multibillion-pound relief plan to ease the looming shock of increasing inflation.
Currently, Sunak is the slow runner in the battle for the position of Prime Minister of the United Kingdom and leader of the Conservative Party. Foreign Secretary Liz Truss is ahead of him in the race for the position. According to Sunak, the former finance minister of the UK, his policy is, “support for the most vulnerable, support for pensioners and some support for everyone.” As finance minister, Sunak imposed a 25 percent windfall tax on the revenues of oil and gas firms.
According to former UK Chancellor and UK Prime Ministerial candidate, Rishi Sunak, “Given energy prices continue to rise, it is also likely the government will raise more revenue from the Energy Profits Levy that I introduced.” Truss, Sunak’s opponent, stated that she prefers tax cuts for households over cash rebates through energy support.
Truss vowed earlier that if she wins the race to be elected as the next prime minister, she will collaborate with energy firms to reduce costs. However, Sunak supporters assert that the tax cuts would disproportionately benefit the wealthy. During the course of this month, fee-paying Conservative Party members will cast their votes through online and postal ballots to choose the next prime minister of the United Kingdom.
