The Indian British UK PM candidate Rishi Sunak announced a plan to reduce energy bills in order to tackle the rising costs for households on Thursday, 11 August.
Every household would see a savings of around 200 pounds in their respective energy bills with a reduced value-added tax i.e. VAT, wrote Sunak in The Times.
As the United Kingdom gears up for higher energy bills which might more than triple in this year, non-profit organizations continue to warn that millions of Britons could be forced below the poverty line. The only way to stop that from happening is if the government launches a multi-billion pound aid package to assuage the impending blow from rising inflation.
At present, Sunak has become the underdog in the race for the position of UK's Prime Minister and as the leader of the Conservative Party. He trails behind the front-runner Foreign Secretary Liz Truss.
The former finance minister of UK, Sunak, said his plan would cover "support for the most vulnerable, support for pensioners and some support for everyone."
While he was the finance minister Sunak introduced a 25 percent windfall tax on oil and gas producers' profits.
"Given energy prices continue to rise, it is also likely the government will raise more revenue from the Energy Profits Levy that I introduced."Rishi Sunak, UK's Former Chancellor and Candidate for UK Prime Minister.
Sunak's rival, Truss has announced that she favours tax cuts for households, rather than funnelling cash back via energy support.
Truss promised on Wednesday, 10 August, that she would work in tandem with energy companies to lower prices if she is elected as the next PM.
However, Sunak supporters say that the tax cuts would favour the richest as compared to the poor.
Fee-paying members of the Conservative Party will be casting their votes to elect the next prime minister of the United Kingdom throughout this month via online and postal ballots.
(With inputs from The Guardian, The Times)
(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)