UK Prime Minister Boris Johnson is preparing to unveil within weeks measures to help consumers facing rising energy bills.
Ministers have concluded that “something needs to be done” before the expected price increases on April 1, according to media reports. What form that will take has yet to be determined, with Mr Johnson expected to attend further meetings on the crisis next week.
This means the Treasury accepts that additional funds are needed as British households face a cost-of-living catastrophe caused by rising taxes, soaring energy bills and high inflation.
The government is expected to decide on what action to take before energy regulator Ofgem unveils a new limit for some tariffs on February 7.
Householders have already been warned that domestic gas and electricity bills could rise as much as 50 per cent in April when the energy price cap is increased.
However, Mr Johnson rejected calls on Wednesday to alleviate pressure on consumers by suspending green levies on household bills.
At a meeting with Business Secretary Kwasi Kwarteng, energy company heads called for the levies, which fund renewable energy initiatives, to be removed from bills, along with VAT.
The utility chief executives also asked the government to provide loans to allow them to extend support to customers and for an increase to the warm homes discount of £140 ($189) a year, which is available to the poorest households.
Mr Johnson’s spokesman said he was not aware of any further changes “at the moment”, when asked if the prime minster would action any of the solutions suggested.
“Obviously, we keep it under review and are listening to those that are most affected,” the spokesman said. But there were no plans to scrap the green levies, he said.
“I think we've seen through the fluctuations in things like gas, that it is important to have secure domestic renewable sources of energy. That's what we're investing in.”
Wholesale power and gas prices have recently shot to record levels, stoking higher inflation and a cost-of-living crisis throughout Europe.
UK households also face the threat of higher shopping bills because suppliers are passing on the costs of spiralling energy prices.
A British Chambers of Commerce survey of almost 5,500 companies found three out of five expect their prices to increase in the next three months.
As a result, UK consumer groups and charities are asking politicians to support low-income customers, who are forced to choose between paying for heat or buying food.
The Resolution Foundation said last month that 2022 is likely to be a “year of the squeeze” on household budgets as wages stall, taxes rise and prices surge, with households facing a £1,200-a-year hit from April.
On Wednesday, Jacob Rees-Mogg, the Leader of the House of Commons, urged the prime minister to ditch a £12 billion increase in national insurance over concerns about the rising cost of living.
Mr Rees-Mogg said the 1.25 per cent increase in the payroll tax should be shelved as inflation and energy bills surge. The increase is designed to help pay for the National Health Service publicly funded healthcare system and the growing cost of social care.
The sign of unrest in Mr Johnson’s Cabinet heaps further pressure on the prime minister to alleviate the impact on ordinary Britons of inflation that has soared to the highest in a decade at 5.1 per cent, with expectations it will rise to 6 per cent by the spring.
UK shares dropped on Thursday, with the FTSE 100 falling 0.7 per cent in early trading, tracking a fall in global equity markets after minutes of the US Federal Reserve's December meeting showed the central bank's hawkish stance on interest rate hikes as it looks to tame high inflation.
Earlier in the week, 20 Conservative members of Parliament wrote a letter to Mr Johnson and Chancellor of the Exchequer Rishi Sunak urging them to remove the 5 per cent VAT charged on energy bills – as well as the environmental levies they say make up almost a quarter of electricity bills.
The extraordinary surge in energy prices, with gas up more than 300 per cent from a year ago, has been exacerbated by the collapse of more than 20 smaller energy suppliers, with their customers transferred to other companies and the costs spread across the industry.
Ofgem is consulting on ways to stagger those extra charges over several years to offer some relief to supplier balance sheets. Funding would be provided by a bank so the costs would not immediately be added to consumer bills.
Tips from the expert
Dobromir Radichkov, chief data officer at dubizzle and Bayut, offers a few tips for UAE residents looking to earn some cash from pre-loved items.
- Sellers should focus on providing high-quality used goods at attractive prices to buyers.
- It’s important to use clear and appealing photos, with catchy titles and detailed descriptions to capture the attention of prospective buyers.
- Try to advertise a realistic price to attract buyers looking for good deals, especially in the current environment where consumers are significantly more price-sensitive.
- Be creative and look around your home for valuable items that you no longer need but might be useful to others.
UAE currency: the story behind the money in your pockets
Who is Mohammed Al Halbousi?
The new speaker of Iraq’s parliament Mohammed Al Halbousi is the youngest person ever to serve in the role.
The 37-year-old was born in Al Garmah in Anbar and studied civil engineering in Baghdad before going into business. His development company Al Hadeed undertook reconstruction contracts rebuilding parts of Fallujah’s infrastructure.
He entered parliament in 2014 and served as a member of the human rights and finance committees until 2017. In August last year he was appointed governor of Anbar, a role in which he has struggled to secure funding to provide services in the war-damaged province and to secure the withdrawal of Shia militias. He relinquished the post when he was sworn in as a member of parliament on September 3.
He is a member of the Al Hal Sunni-based political party and the Sunni-led Coalition of Iraqi Forces, which is Iraq’s largest Sunni alliance with 37 seats from the May 12 election.
He maintains good relations with former Prime Minister Nouri Al Maliki’s State of Law Coaliton, Hadi Al Amiri’s Badr Organisation and Iranian officials.
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
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Tips to stay safe during hot weather
- Stay hydrated: Drink plenty of fluids, especially water. Avoid alcohol and caffeine, which can increase dehydration.
- Seek cool environments: Use air conditioning, fans, or visit community spaces with climate control.
- Limit outdoor activities: Avoid strenuous activity during peak heat. If outside, seek shade and wear a wide-brimmed hat.
- Dress appropriately: Wear lightweight, loose and light-coloured clothing to facilitate heat loss.
- Check on vulnerable people: Regularly check in on elderly neighbours, young children and those with health conditions.
- Home adaptations: Use blinds or curtains to block sunlight, avoid using ovens or stoves, and ventilate living spaces during cooler hours.
- Recognise heat illness: Learn the signs of heat exhaustion and heat stroke (dizziness, confusion, rapid pulse, nausea), and seek medical attention if symptoms occur.
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