UK chancellor urged to remove ‘hidden taxes’ from energy bills
Summary
More than 120 organizations, including businesses and charities, have asked the UK chancellor to remove extra charges called "levies" from energy bills. These levies make energy more expensive, and the groups say the government should pay for energy policies directly instead to lower costs for homes and businesses.Key Facts
- Over 120 groups, including Energy UK and Age UK, signed a letter to the chancellor asking to remove hidden taxes from energy bills.
- Levies currently add about 10% to energy bills and fund government energy policies such as renewable projects and nuclear power.
- The letter suggests the government should pay these costs through taxation, not through energy bills.
- Removing levies could lower household energy bills by up to £250 a year and reduce electricity prices for businesses by 20%.
- Energy bills in the UK are 70% higher now than in 2021, partly due to these levies and rising global energy prices.
- The government promised to cut energy bills by £300 a year by 2030 before the 2024 election.
- A recent cut to VAT on domestic energy bills is expected to save households around £45, but it may end in April.
- High energy costs are causing business closures and job losses, while making UK investments less attractive.
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