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Daily Mirror
Daily Mirror
Business
Tom Ambrose

Martin Lewis hits out at 'sell out' claims after praising Sunak's cost of living plan

Martin Lewis hit out at critics who have branded him a "sell out" after he praised the Government's package to help people with the cost of living crisis.

Brits will receive a £400 discount towards their energy bills after Rishi Sunak ripped up plans to force people to pay back help.

The Chancellor announced that the grant would double from £200 to £400 for all households - and would no longer be repayable - as part of a package to help with the spiralling cost of living crisis.

Following the announcement on Thursday, consumer affairs expert Martin Lewis tweeted that the Government's plan was a "good move", prompting a wave of criticism.

Chancellor of the Exchequer Rishi Sunak makes a statement on the cost of living crisis in the House of Commons (PRU/AFP via Getty Images)

After being accused of "selling out", he wrote on Twitter : "Thanks so much to the few attacking me as a 'sell out' after summarising that the Chancellor's package was more generous than expected.

"I've spent months shrieking, pleading, urging for more help, calling out the dangers.

"I've nowt to sell out, I just try and call it straight."

Despite the negativity towards Mr Lewis's initial praise of the announcement, others on social media thanked him for fighting their corner and forcing the "generous" package from the Treasury.

In a statement to MPs, Mr Sunak also said over eight million households on means-tested benefits will receive a one-off £650 payment, made in two lump sums, with one in July and one in the autumn.

Pensioner households who receive the winter fuel allowance will also get an additional £300 one-off payment and people who receive non-means tested disability payments will get an extra £150.

Mr Sunak also announced a £500million increase for the Household Support Fund, delivered by councils, extending it from October until March next year.

Martin Lewis was accused of 'selling out' (Ken McKay/ITV/REX/Shutterstock)

The measures will be funded by a 25% windfall tax on extraordinary profits of oil and gas giants - in a major U-turn by ministers.

Mr Sunak said the sector was making "extraordinary profits" due in part to surging global gas prices triggered by the war in Ukraine.

It comes as Mr Lewis urged customers of British Gas and E.On to check if they can fix into an energy deal that is less than the current price cap.

The MoneySavingExpert (MSE) founder addressed concerns about rocketing energy bills after the boss of Ofgem warned the price cap could rise to £2,800 in October.

Energy bills have already shot up for millions of households across the UK after Ofgem hiked the April price cap to just under £2,000.

During his Martin Lewis Money Show Live broadcast on ITV earlier this week, Martin was asked by one viewer if now is the time to lock into a fixed rate energy deal.

The MSE founder explained that there are currently no open-market rates that are cheaper than the current price cap - but you may be offered a cheap rate from your existing provider.

Energy bills have already shot up for millions of households across the UK (Getty Images)

The margin Martin gave for considering locking in now was 30% above the current price cap - or 35% if you’re after price assurance.

He said: “[The price cap] is going to go up 42%, we’re predicting in October - and then even though the new price cap only lasts three months, the latest estimates I’ve had from analysts is the January price cap for the next three months is going to be the same.

“So we’re expecting it to be around £2,800 until next April - it’s horrible isn’t it - then it is going to drop a little bit.

“When you plug all that in to where we are now - four months on this price cap, then six months on the next price cap - effectively, if you can find a fix below around 30% of the current price cap, then it’s probably worth doing.

“You can add 5% on top of that because you get price assurity of knowing what your prices are.”

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