Good morning. For too many people, this just doesn’t feel like breathing room. Andy Burnham entered Downing Street in July pledging to give consumers respite from the cost of living crisis. A day later he announced a VAT cut on domestic electricity from 5% to zero due later this year, saving the average household about £45 a year.
But this pales against yesterday’s announcement that the energy price cap is rising another 4% from 1 October, the second jump in three months. The typical annual bill for household gas and electricity use will soon be a wallet-straining £1,723.
