Martin Lewis has issued a two word verdict on Rishi Sunak's new cost of living scheme.
It comes after the Chancellor agreed to impose a windfall tax on the soaring profits of oil and gas firms to fund a cost of living relief package - after the Government initially ruled out doing so.
Labour said the Chancellor had been “dragged kicking and screaming” into backing its call for a levy on fossil fuel giants which have benefited from high global prices. Mr Sunak said the 25% energy levy would raise around £5 billion that will be used to send a one off payment of £650 to more than eight million households.
READ MORE: Rishi Sunak announces £650 one off payment for households
Mr Sunak also announced that the energy bills discount due to come in from October is being doubled from £200 to £400, while the requirement to pay it back will be scrapped. This means households will receive a £400 discount on their energy bills from October.
Mr Lewis has been campaigning for the Government to do more to help households who have been plunged into poverty in recent months. The soaring cost of living has left many households having to choose between "eating and heating".
Today, the Money Saving Expert shared what he thinks about the new £400 energy grant. Taking to Twitter, he said: "The Loan-Not-Loan is thankfully now dead. It is now a grant coming off bills. And it is bigger.
"So now ALL energy bills will be reduced by a flat £400 this October. #CostOfLivingCrisis
"GOOD MOVE."
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