Chancellor called on to give £300 payments for high bills

Chancellor called on to give £300 payments for high bills: A think tank has urged the Chancellor to supply cash payments of £300 to assist households in coping with the stress from soaring energy bills.

Dr Aveek Bhattacharya, Chief Economist of the Social Market Foundation, remarked that customers should receive these contributions alongside a further £200 for people on Universal Credit or legacy benefits.

Dr Bhattacharya has additionally cautioned that more proposals, involving diminishing VAT on bills, extending of the Warm Home Discount & energy companies rescue are all “flawed”.

He said these steps would make energy more affordable and stimulate consumption.

Alternatively, these cash payouts would help the government react to “future shocks”.

He went on: “It is clear that some action is needed, but the government should avoid the temptation to over complicate its response & muddle its environmental objectives by subsidising energy.

“Instead, it should make direct cash payments to households & leave them to figure out how best to address their needs. A ‘cost of living bonus’, with a higher payment for those on low incomes, would do a lot to help struggling families & clearly demonstrate that the government is on their side.”

Chancellor called on to give £300 payments for high bills