Tories call on Treasury to fund green energy rather than already pinched households
A group Tory MPs have called on the government to fund environmental and social energy policies from Treasury money, rather than from consumer bills.
The Conservative Environment Network (CEN) of 116 MPs said a temporary measure would ease the surge in household costs.
Homes across the UK are set to be whacked with increased wholesale energy bill as the government’s cap on bills is set to be lifted in April.
Data from Investec suggested that the price cap will rise by 56 per cent in April, pushing the typical energy bill from £1,277 to just shy of £2,000 a year.
Ofgem, the energy regulator, is currently reviewing the price cap, and weekend reports suggest inflation could hit 7 per cent without bill cap.
Aside from this, the CEN have opposed a separate proposal to abolish the five per cent VAT on energy bills.
The plan to scrap VAT on energy has been endorsed by the Net Zero Scrutiny Group (NZSG) of Tory MPs and peers, which is led by Tory MP for South Thanet, Craig Mackinlay, who has regularly voted against measures to tackle climate change.
The green-focused group CEN argue that it would effectively provide a subsidy for fossil fuels, and have instead urged ministers to reduce bills and emissions in the long term through better insulated homes, according to the BBC.
The CEN define themselves as an independent forum, Parliamentary Caucus, and membership organisation for conservatives who support conservation and decarbonisation.