How the Liberal Democrats would temper the cost of living crisis in Newcastle

The Liberal Democrats proposal for a "Robin Hood" tax on energy giants to support families with heating bills could bring £20 million to well over 60,000 people in the city, Cllr Robin Ashby has told Newcastle City Council.

The proposed levy could raise over £5 billion nationwide this year from the super-profits being made by oil, gas and petrol firms, to help local families who are facing soaring energy costs.

The money raised through this "one-off" tax could fund a substantial package of emergency support to help thousands of people facing higher bills.

This would include doubling the Warm Homes Discount and extending it to all those receiving Universal Credit or Pension Credit, giving nearly 45,000 households in Newcastle £300 each off their heating bills this year.

We also want the winter fuel allowance to be doubled, benefitting nearly 18,000 pensioners in the City and helping them keep their homes warm. On top of this, there'd be a half billion pound fund to help people insulate their homes to slash heating bills in the long term, as well as contribute to reducing emissions as we move towards net carbon zero.

It can't be right that a few energy firms are making billions from record prices while people can't even afford to heat their homes.

For years the Conservatives have ignored this problem and failed to take the bold action we need to reduce fuel poverty. The Government cannot look the other way any longer while families struggle to get by.

Their stealth tax raid will also cost the average family in the north east £340 a year by 2026, or a total of £400 million.

This is the scale of the cost to families of the government's decision to freeze the personal tax allowance and higher rate tax threshold until 2025/26, compounding the growing cost of living crisis.

The government drops their plans that will clobber families who are already feeling the pinch.

Across all regions, household disposable incomes are estimated to be 1% lower in 2025/26 than they would be if there was no freeze to income tax thresholds, or £430 lower per household. At the same time inflation is at its highest level for decades.

People are being hit from both ends. Lord Mayor, every step the Tories take, every move they make, is making the cost of living crisis worse. It's time to call a halt.