Reeves to reiterate Labour pledge to cut down energy bills

A Labour government would help families save up to £300 off energy bills by 2030 and tackle the root causes of the cost-of-living crisis, shadow chancellor Rachel Reeves is set to say on Wednesday.

Ms Reeves will accuse the Conservatives of being “staggeringly out of touch with the struggles facing ordinary families” in comments ahead of the release of May’s inflation data.

On a visit to the South West, she will reiterate Labour’s pledge to make Britain a clean energy superpower by 2030, which the party says will save families up to £300 per year off their energy bills, boost the UK’s energy independence, and create 650,000 good jobs.

The Labour Party was to launch GB Energy (Owen Humphreys/PA)
The Labour Party wants to launch GB Energy (Owen Humphreys/PA)

The party has pledged £8.3 billion for the publicly owned Great British Energy company, which will invest in clean energy.

This will in part be paid for through a windfall tax on oil and gas companies.

The shadow chancellor said: “After 14 years of Conservative chaos, working people are worse off. Prices are still sky-high in the shops, mortgage bills are higher and the price of energy has soared.

“This election has exposed a Conservative Party that is staggeringly out of touch with the struggles facing ordinary families. The Conservatives have no plan to tackle the cost of living and instead are offering a desperate wish list of unfunded promises that will mean £4,800 more on people’s mortgages.

“I will always put family finances first. As chancellor, I will tackle the root causes of the cost-of-living crisis so we can make working people and their families better off.

“That includes creating a publicly owned clean energy company to power Britain’s future energy security, take control of our energy supply and bring down bills.”

A Conservative Party spokesman said: “The cost of Labour’s promises would mean at least £2,094 in higher council tax and other tax rises for every working family.

“And that’s just the start, by rigging the system with votes for 16-year-olds, Labour would lock themselves in power for a generation – unaccountable and raising taxes however they want.”