Response to government announcement on energy bills

08 September 2022

Mubin Haq, Chief Executive of abrdn Financial Fairness Trust, said:

“Today’s announcement on energy bills will bring welcome relief for millions across Britain. However, whilst government might have avoided the roof falling in on household finances, there are still serious leaks. Our research shows 10 million families are struggling or in serious financial difficulties due to the cost increases they already faced. Those on lower incomes still need targeted help to get them through winter; the new ‘guarantee’ helps but still falls short.

“This initiative should be funded by those who can shoulder the burden – those on higher incomes, those with greater assets and the energy companies who have made record profits. The government needs to look at this again. We need a fair outcome; it’s hugely concerning government has made no indication this will be the case.”

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