Cost of living relief would see Labour grant £90 million to Portsmouth residents

MP Stephen Morgan, who represents Portsmouth Sout h, has said that Labour ‘s plan to stop bills rising this winter would save the average household in his constituency £1,000, get energy costs under control for the future and help tackle inflation.

Labour’s £29bn plan would prevent the energy price cap rising through the winter, paid for by an extra tax from oil and gas companies.

It means that households across Portsmouth South would receive £48m from Labour’s fully costed plan. Those in Portsmouth North would receive £42m under the scheme.

The MP said: ‘Families and pensioners across P ortsmouth are scared about how they’ll get through the winter with bills through the roof.

‘Our city would receive up to £90m under Labour’s plan, saving households £1,000 this winter and investing in sustainable British energy to bring bills down in the long-term.

‘Labour’s fully-funded plan would fix the problems immediately and for the future – helping people in our city get through the winter while providing the foundations for a stronger, more secure economy. Only Labour can give Britain the fresh start it needs.’

Energy bills are expected to top £5,300 annually in April next year, a massive increase from previous predictions, according to energy consultancy Cornwall Insight.

Inflation may reach levels of 18 per cent, according to the latest forecasts from financial Citi.