Boris Johnson: 'Cost-of-living relief is a matter for next PM'

Boris Johnson has insisted that “making significant fiscal decisions” to help tackle the cost-of-living crisis is a matter for the next Prime Minister.

This morning Johnson, Chancellor of the Exchequer Nadhim Zahawi and business and energy secretary Kwasi Kwarteng met industry leaders from the electricity sector to discuss rising energy prices.

Following the meeting, the Treasury briefed that “the Prime Minister set out that it will be for the next Prime Minister to make significant fiscal decisions”.

The results of the Conservative Party leadership election are not expected to be announced until September 5.

Johnson said: “Countries around the world are feeling the impact of Putin’s damaging war in Ukraine. We know that this will be a difficult winter for people across the UK, which is why we are doing everything we can to support them and must continue to do so.

“Following our meeting today, we will keep urging the electricity sector to continue working on ways we can ease the cost of living pressures and to invest further and faster in British energy security.

“We are continuing to roll out government support over the coming months, including the second £324 instalment of the cost of living payment for vulnerable households, extra help for pensioners and those with disabilities, and the £400 energy bills discount for all households.”

Bills have soared due to the increase in the cost of wholesale energy prices caused by Russian President Vladimir Putin’s invasion of neighbouring Ukraine. The world’s oil and gas market has shrunk, leading to higher demand and higher prices, which is being passed onto households.

Energy bills could soar to more than £5,000 from next April, according to a bleak forewarning from consultancy Auxilione.

Zahawi said: “This morning I hosted industry leaders from the electricity sector to discuss what more they can do to work with government and act in the interest of the country in the face of rising prices caused by Putin's illegal invasion of Ukraine.

“We have already acted to protect households with £400 off energy bills and direct payments of £1,200 for eight million of the most vulnerable British families. In the spirit of national unity, they agreed to work with us to do more to help the people who most need it.”

Commenting, the SNP’s Alison Thewliss said: "It's disgraceful that Boris Johnson has failed to announce any new measures at all after today's crunch meeting - demonstrating a total abdication of leadership from the Westminster government while millions of families suffer from the spiralling Tory cost of living crisis.”