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Tax banks to give some households energy bill cut, unions tell Burnham

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⚡ Instant Key Takeaways (TL;DR)
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Core Development: Tax banks to give some households energy bill cut, unions tell Burnham
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Market & Financial Impact: The TUC says a bank surcharge should be reversed - and estimates it would raise £9bn over four years.
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Actionable Insight: 🏛️ Policy & Macro: Interest rate, inflation, or regulatory changes affecting broad market valuations.

The leader of Britain's trade unionists has told Andy Burnham the government should introduce a "social tariff", paid for by a bank surcharge, to help low and middle earners with their energy bills.

A social tariff is a discount on bills based on household income, and the TUC says it believes two-thirds of households could benefit.

The TUC says the bank surcharge, which was reduced in 2023 from 8% to 3% by the then Conservative government, should be reversed - and estimates it would raise £9bn over four years.

TUC leader Paul Nowak said: "I think it will appeal to the prime minister. These are policies that make a difference in the real world and people can see a value in them."

In a wide-ranging BBC interview ahead of its annual congress in Brighton next week, the TUC general secretary said next month's Budget needed to show "the government is back in the service of the British people".

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Official Publisher Attribution: This report is aggregated from Bloomberg. ZeroLive provides live aggregation, automated sentiment synthesis, and exchange disclosure monitoring for retail market participants.
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