Second home owners will save £400 on energy bills for EVERY property under Rishi’s bailout – with Chancellor himself set to benefit (but he’s donating cash to charity)
- Second home owners are set to save £400 on energy bills for every property
- Treasury confirms there’s no restriction on how many times people can benefit
- Rishi Sunak himself will personally benefit from the Government’s policy
- But Chancellor is understood to be planning to donate savings to charities
Second home owners are set to save £400 on their energy bills for every property under Rishi Sunak’s bailout.
The Treasury has confirmed there is no restriction on how many times individuals can benefit from the universal handouts unveiled by the Chancellor today.
Instead the sum will be automatically deducted from their bills, meaning they could rack up much larger savings.
Mr Sunak himself will personally benefit from the Government’s policy.
Although he does not directly pay utility bills at his grace-and-favour residences – in Downing Street and Dorneywood, Buckinghamshire – Mr Sunak owns other propoerties.
It is understood Mr Sunak is planning to donate the savings he makes to charities in his Yorkshire constituency.
According to his register of interests as an MP, the Chancellor owns a flat in London.
The Kensington residence is said to be worth £1million, while Mr Sunak and his wife, Akshata Murty, are also believed to own a nearby mews house worth £7million and a £2million mansion in the Chancellor’s Yorkshire constituency.
The £400 discount on energy bills, announced by Rishi Sunak today, will apply to all households from October
Mr Sunak and his wife, Akshata Murty, are believed to own a £1m Kensington flat, a nearby mews house worth £7m and a £2m mansion in Yorkshire
The £400 discount on energy bills will apply to all households from October.
It is a doubling of Mr Sunak’s previous offer of a £200 discount, which he made in Febraury.
And the Chancellor has also scrapped a requirement for households to have to pay back the discount at a later date, which had effectively made it a loan.
The Treasury has priced the measure at a £6billion cost.
Paul Johnson, director of the Institute for Fiscal Studies, today questioned the universal nature of some of the cost-of-living help being provided by the Chancellor.
He told BBC Radio 4’s Today programme: ‘Whether it’s needed for all households, I think, is more of a difficult point.
‘£100 off for each household in the country costs, each £100, costs something like £3bn and a lot of that money, frankly, will go to households who don’t desperately need it.
‘I’m sure they’ll appreciate it, but won’t necessarily need it.’
He added: ‘It really will mean a lot of people who don’t need this help will get it – people who are on quite high incomes and, indeed, the very, very large numbers of households who saved a great deal over the Covid period.’
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