Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Daily Record
Daily Record
Politics
Paul Hutcheon

Autumn Statement: Energy price cap to be lifted as bills set to soar for Scots

Scots will be hit with massive energy bill rises after the Conservative Government announced an end to the current price cap.

The so-called energy prince guarantee began in October and was supposed to run for two years. But worsening public finances has forced Chancellor of the Exchequer Jeremy Hunt to u-turn in his Autumn Statement.

Under the current scheme, a household using a typical amount of gas and electricity is expected to pay around £2,500 annually.

The cap will be raised to around £3,000 from April for 12 months, with support from that point being targeted at those on low incomes. The two-year scheme had been introduced by the previous Government led by Liz Truss.

The cost of gas and electricity will soar following the announcement today (PA)

Ahead of the statement Ian Blackford, the SNP Westminster leader, said that the Chancellor does not need to bring in the "austerity measures".

He told Sky News: "I think it really brings into question a lot of the austerity measures that we know that the Chancellor is going to bring in today. He doesn't need to be doing this, it's a political choice as much as anything else."

The SNP MP called for windfall taxes on companies that "have benefited from high energy prices" and said a tax on share buybacks "would bring in £11 billion".

He added that the economy was "smaller because of Brexit" and that "we should be honest about its impact".

To sign up to the Daily Record Politics newsletter, click here.

READ NEXT:

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.