Boris Johnson has finally broken silence on the energy bill crisis, claiming 'more money will be coming' in the near future.
In his first media interview since returning from his honeymoon, the Prime Minister told reporters that 'extra cash' is needed while suggesting that announcements will be made by his successor.
When asked whether the government's current support package is enough to offset skyrocketing gas and electricity prices, Johnson replied 'no'.
"And what the government will be doing, whoever is the Prime Minister, is making sure there is extra cash to help people.
"I think it is crucial to understand that, first of all, we realised for a long time that things were going to be tough and that’s why we put in place a lot of measures already.
"The money has started to come through. I think it is very important for people to understand, most people have not yet received the help the government has already allocated.
"So over the course of the next couple of months you will see about eight million households get another £326, you will see everybody in October get help with the energy support scheme."
Johnson said that while he understands 'things aren't easy' right now, he believes they're doing everything they can.
"But there's more money coming anyway - as a result of the decisions being taken, there will be further help coming in October and in the new year," he said.
At another point in the address, he claimed that the 'decisions of this government' have meant the UK has a 'robust economic situation' with 'virtually record-low unemployment'.
These statements will no doubt generate skepticism amongst the millions of households left struggling by the cost of living crisis.
In April, the energy price cap jumped from £1,277 to £1,971 per year, and new figures released this week predict that this will jump to £3,582 from 1 October, with a further increase to £4,266 from January 2023.
We have released new price cap figures following a wholesale price surge and Ofgem revising their cap methodology.— Cornwall Insight (@CornwallInsight) August 9, 2022
We are predicting a typical household will pay the equivalent of:
- £3,582 p/a from Oct
- £4,266 p/a from Jan
More on our forecasts below:https://t.co/0LpPYbWXj8
In its report, Cornwall Insight explains the reasoning behind the increase: "In its initial proposals from May, the regulator (Ofgem) stated that an element of supplier costs associated with wholesale market hedging would be explicitly included within the cap methodology and would be recoverable over a 12-month period.
"However, in the consultation documents released last week, it was confirmed that these costs would be recoverable over a six-month period – resulting in higher bills than previously forecast for the crucial January cap."
Featured Image Credit: pjrnews/Alamy PA Images/Alamy