KATE OSBORNE: Tories allowing energy firms to make £6m profit an hour

Prices have risen by more than 200%, inflation has risen to a record 40 year high and wages have fallen at sharpest rate on record and now the energy price cap is set to double in January, reaching an eye-watering average of £4,200 per year, putting more than half of households in fuel poverty.
By The Newsroom
Published 18th Aug 2022, 00:00 BST
"People are struggling to cope with this cost of living crisis, with food prices rising - bread up 16% and pasta up a huge 50%.""People are struggling to cope with this cost of living crisis, with food prices rising - bread up 16% and pasta up a huge 50%."
"People are struggling to cope with this cost of living crisis, with food prices rising - bread up 16% and pasta up a huge 50%."

People are struggling to cope with this cost of living crisis, with food prices rising - bread up 16% and pasta up a huge 50% - leaving people no longer just choosing between heating and eating, but unable to do either - reliant on foodbanks and worried about putting the heating on heading into the winter months, thinking how on earth they are going to financially survive.

Yet where is the Tory government? People are suffering and the government is missing in action, with Johnson on his second holiday in as many weeks and two Tory leadership candidates more focused on tearing strips off each other in public debates focusing on how many tax breaks to give to the rich than offering any real solutions to this crisis.

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We can’t continue making working people pay whatever the big energy company’s demand. It cost £2.2bn just to bail out Bulb Energy - Britain could nationalise the top five energy companies for only £2.8bn.

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It isn't cost that stops the government from nationalising it’s a political choice to continue letting UK energy companies make £6 million profit an hour - whilst people cannot afford to pay their bills. People on the lowest incomes having to bear the brunt of these whopping price rises, alongside sky-high food and petrol prices, is beyond disgraceful - and isn't happening anywhere else in Europe.

It doesn’t have to be like this, things could be better for working-class people across this country, and that’s why we need everybody together, campaigning for a better deal: it’s time to say – enough is enough!

Labour’s plan to save households £1,000 this winter and invest in sustainable British energy to bring bills down in the long-term is a direct response to the national economic emergency that is leaving families fearing for the future and would have an immediate impact – helping people get through the winter whilst providing the foundations for a stronger, more secure economy.

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Related topics:PeopleKate OsborneBritain