I am very pleased with the decisive and comprehensive action by the Prime Minister today to tackle huge concerns across Hertford and Stortford about energy bills this winter.
Capping bills at £2500 for households until 2024 and organisations, charities, schools and businesses for six months gives relief and certainty.
I was also concerned about how many local businesses and farmers would cope with bills when, unlike domestic customers, they are uncapped. The Prime Minister announcing an equivalent £2500 guarantee until the spring for those businesses hit by rising prices is welcome. Further support for vulnerable sectors, such as hospitality, including our local pubs will be forthcoming after the end of that period.
Liz Truss has moved quickly, not just to help and support everyone at such a challenging time, but she has also announced a plan to set up an Energy Supply Taskforce to negotiate new long-term contracts with domestic and international gas suppliers. This should immediately bring down energy costs.
Further licences to drill for oil and gas in the North Sea while speeding up renewables, such as offshore wind, and new nuclear will move the UK towards energy security. This is absolutely vital if the country is to avoid this situation again.
It is important to note there is no watering down of the government’s 2050 net zero ambitions. I welcome a review to look at achieving this landmark pledge in a pro-business and pro-growth way.
This is an assured start by our new PM.