Overview

• Chancellor Rachel Reeves is considering a Resolution Foundation proposal to take social-care and net-zero levies off electricity bills and fund them through general taxation.
• The think tank’s modelling suggests the poorest households would be about £110 a year better off on average, middle earners around £40, and the top quarter would face roughly £350 more in costs.
• The levies now on bills help pay for renewable energy infrastructure, home insulation schemes and some social-care costs.
• The Treasury declined to comment on potential tax changes outside of fiscal events, with decisions expected at the 26 November Autumn Budget.
• Specific taxes to fund the switch have not been set, and GB News reported estimates of an initial £4.5bn rise in the tax burden falling to £3.5bn before 2030.