IEA Chief Operating Officer and Energy Analyst Andy Mayer has been quoted in The Independent criticising the energy price guarantee as a middle class handout, in reference to proposals to insulate mortgage holders from the effects of high interest rates.

The article said:

“Such a policy could end up helping a lot of relatively well off borrowers. This is not to underestimate their pain. But there are, at the moment, people literally struggling to eat. Is bailing out a banker’s mortgage really what you want to be doing when her cleaner can’t afford breakfast for his kids? A banker who, moreover, has already benefitted from that energy price guarantee, dubbed a ‘middle class tax cut’ by the Institute of Economic Affairs because its biggest beneficiaries were wealthy homeowners with big houses that consume a lot of energy.”

Read the full article here.

Andy’s full criticism of the energy price guarantee can be read here.