Extra help from the Chancellor is welcome but most workers still facing difficult decisions on finances

Chancellor Rishi Sunak has today (Thursday 26 May) announced a package of measures aimed at combating the cost of living crisis, in particular energy bills.

The package is going to be funded by a windfall tax on oil and gas companies.

Sue Ferns, Senior Deputy General Secretary of Prospect, said:

“Working people face are facing a disastrous cost-of-living crisis thanks to the soaring cost of energy, and real terms pay cuts thanks to soaring inflation.

“Any extra help will be of course welcome, but most workers will still be facing very difficult decisions about their family finances.

“The truth is that working people are now paying the price for a decade long lack of a coherent energy strategy from this government.

“The government needs to urgently make good on their promises on nuclear and renewables with serious investment, so we are never again stuck in this desperate situation.”

The government also left the door open for a further windfall tax on generating companies.

Sue Ferns added:

“As the government considers taxing energy generators further, it must find a way of treating those generators who are supporting the loss-making retail market, and making big investments in new nuclear and renewables, differently to those who are not.”