British Prime Ministerial candidate Rishi Sunak has announced plans to cut energy bills to help tackle rising housing costs.
Sunak has also promised that every British household will see a saving of around £200 on their energy bills, with reduced value-added tax (VAT).
Not-for-profit organizations continue to warn that millions of Britons could be pushed below the poverty line as Britain braces for higher energy bills to more than triple this year.
The only way to prevent that from happening is seen as the government launching a multi-billion pound aid package to cushion the blow from rising inflation. Currently, Rishi Sunak is trailing in the race for British Prime Minister and Conservative Party leader and is trailing Foreign Secretary Liz Truss in the lead.
Rishi Sunak, a former finance minister, said his plan would include "support for the most vulnerable, support for pensioners and some support for everyone". Rishi Sunak, when he was finance minister, introduced a stiff tax of 25 per cent on the profits of oil and gas producers.
"As energy prices continue to rise, the government may raise more revenue from the energy profit tax that I have introduced," he said.
Rishi Sunak's rival, Liz Truss, meanwhile, has announced she would prefer tax cuts for households rather than cash back through energy subsidies.
Not only that but if elected as the next Prime Minister, Liz Truss has promised to work with energy companies to lower prices.
However, Rishi Sunak's supporters say that the tax cuts will favor the rich as compared to the poor. Meanwhile, Conservative MPs will cast their votes through online and postal ballots throughout this month to elect Britain's next prime minister.
