Monday, January 17, 2022

The UK is considering a bank loan plan to reduce energy costs – the BBC

Must Read

“I think they want to save me” – Kathleen Chukagian free agent after UFC Vegas 46 victory

Kathleen Chukagian secured another victory over Jennifer Maya in UFC Vegas 46, but while her first...

Lori Loughlin, Mossimo Giannulli’s Los Angeles home burglarized

Lori Loughlin and Mossimo Jannulli started the new year as victims of the invasion.The couple's home in Los...

Facebook bans ads from hemp-based businesses — although products are legal

Facebook and Instagram’s strict advertising policies are hurting small businesses that produce products from cannabis - although the...


LONDON, Jan. 15 (Xinhua) – The British government is considering plans to mitigate a sharp rise in energy prices that will affect households in April, the BBC reports.

Under the cost-delay mechanism, major banks will lend billions of pounds to energy companies, allowing them to increase gas bills for five or 10 years, the broadcaster said.

The UK Treasury could play a role by guaranteeing loans to energy firms.

Government officials also considered the use of the Bank of England for pre-financing, which provided emergency loans to businesses during the coronavirus pandemic, the BBC said, citing its own sources on Friday night.

Other options to reduce the impact of government tariff increases – bills could increase by 50% after rising international energy prices – include expanding the discount scheme for low-income households or reducing energy taxes.

Prime Minister Boris Johnson is under pressure to act before the expected rise in fuel prices, which will push inflation in the UK to 6% or higher in April, at which time tax payments for workers and employers should also rise.

The shrinking cost of living is exacerbating the problems for Johnson, who is facing calls for the resignation of some members of his Conservative party, after parties were revealed at a time when social intervention on Downing Street was limited. (Written by William Schomberg; edited by Ian Harvey)

.

- Advertisement -
Latest News

“I think they want to save me” – Kathleen Chukagian free agent after UFC Vegas 46 victory

Kathleen Chukagian secured another victory over Jennifer Maya in UFC Vegas 46, but while her first...

Lori Loughlin, Mossimo Giannulli’s Los Angeles home burglarized

Lori Loughlin and Mossimo Jannulli started the new year as victims of the invasion.The couple's home in Los Angeles was stolen earlier this...

Facebook bans ads from hemp-based businesses — although products are legal

Facebook and Instagram’s strict advertising policies are hurting small businesses that produce products from cannabis - although the cannabis crop hasn’t taken you...

Mustafa Ali and Vince McMahon had a heated argument before his release request

Mustafa Ali has asked WWE to release him, and he announced the news today. Maybe they’ll get him out of the deal...

Meet Cowboys’ Dak Prescott’s girlfriend Natalie Buffett

Duck Prescott’s sixth NFL season was even sweeter, partly thanks to his favorite fan. The Cowboys midfielder, who suffered an ankle injury at the...
- Advertisement -

More Articles Like This