How will the proposed energy price cap work?

Energy prices are a touchy subject for many of us. British Gas, for example, announced in August that it was increasing its prices by 12.5% from this autumn. For typical households on a dual fuel tariff that’s an increase of around £75 a year. It seems that there is a never-ending stream of bad news about energy prices with the big six following in each other’s footsteps and repeatedly giving consumers bigger bills to swallow. So, when it was announced that the government was considering an energy price cap, there were sighs of relief right across the country. But what does the new energy price cap actually mean for British consumers and are you likely to benefit? What is the energy price cap? It will mean that around 18 million people in the UK will see their bills reduced by roughly £120 a year. Those who are affected are consumers who have not ever switched i.e. the most loyal customers. It’s these people who have been with a supplier so long that they have ended up on the
http://bit.ly/2jdXdTw

Advertisements

Proposed revisions to the UK’s social care funding

It’s been dubbed the “dementia tax” and in the run-up to the General Election caused a huge controversy which resulted in Theresa May announcing a hasty u-turn in response to a backlash from Conservative-supporting newspapers and groups representing the elderly. But what is this tax and how would it effect families and elderly people across Britain? What is the dementia tax ? The so-called dementia tax is a series of a proposals from the Conservatives to reform the way that social care is provided and paid for. Under the Tory plans, anybody who decides to stay at home and receive care rather than moving into a residential care home would be able to pay for it using the value of their property once they have passed away. The plans put a threshold of £100,000 on the care meaning the entire value of the home apart from that first £100,000 would be reclaimable after a person’s death if he or she had social care in older age. The policy was announced by the Conservatives at the
http://bit.ly/2tudw20