IEA expert responds to Energy Bill Relief Scheme for businesses
21 September 2022
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In the Media
Mark Littlewood quoted in The Telegraph
21 September 2022
Press Release
Government and Institutions
Commenting on the announcement of the Energy Bill Relief Scheme, Andy Mayer, Chief Operating Officer and energy analyst at free market think tank the Institute of Economic Affairs, said:
“The Energy Bill Relief Scheme replicates the domestic Energy Price Guarantee for businesses.
“The government has done well to deliver a comparable scheme quickly, avoiding inconsistency.
“But tax cuts and targeted support would have been a more effective solution, encouraging less energy use, while rewarding those who had already invested in energy efficiency.
“A better plan would be cutting rates, VAT and payroll taxes for businesses, lowering general taxation for working people, and upping welfare for the vulnerable.”
ENDSNotes to editorsContact: media@iea.org.uk / 07763 365520IEA spokespeople are available for interview and further comment.
Further comments by Andy on the Energy Price Guarantee can be read here:
https://reaction.life/energy-price-freeze-risks-prolonging-the-crisis/
https://iea.org.uk/media/energy-price-freeze-is-middle-class-welfare-on-steroids/
The mission of the Institute of Economic Affairs is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems. The IEA is a registered educational charity and independent of all political parties.
“The Energy Bill Relief Scheme replicates the domestic Energy Price Guarantee for businesses.
“The government has done well to deliver a comparable scheme quickly, avoiding inconsistency.
“But tax cuts and targeted support would have been a more effective solution, encouraging less energy use, while rewarding those who had already invested in energy efficiency.
“A better plan would be cutting rates, VAT and payroll taxes for businesses, lowering general taxation for working people, and upping welfare for the vulnerable.”
ENDSNotes to editorsContact: media@iea.org.uk / 07763 365520IEA spokespeople are available for interview and further comment.
Further comments by Andy on the Energy Price Guarantee can be read here:
https://reaction.life/energy-price-freeze-risks-prolonging-the-crisis/
https://iea.org.uk/media/energy-price-freeze-is-middle-class-welfare-on-steroids/
The mission of the Institute of Economic Affairs is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems. The IEA is a registered educational charity and independent of all political parties.
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