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What the UK Chancellor’s Spring Statement means for the energy crisis: E3G responds 

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UK Chancellor of the Exchequer Rishi Sunak looks at his statement papers before delivering Spring Statement speech to parliament. Photo via HM Treasury on flickr.
UK Chancellor of the Exchequer Rishi Sunak looks at his statement papers before delivering Spring Statement speech to parliament. Photo via HM Treasury on flickr.
  • UK Chancellor of the Exchequer Rishi Sunak outlines cost-of-living interventions in Spring Statement speech to Parliament
  • Rising costs of living are throwing millions into poverty – up to 1 in 3 households could be in fuel poverty by the autumn 

Quotes on the UK Chancellor’s Spring Statement

General comment: Ed Matthew, Campaigns Director at climate change think tank E3G said: 

“The UK has the most energy inefficient housing stock in western Europe and action to cut energy demand is the most effective way to bring down energy bills. The cut in VAT for retrofitting homes is welcome, it will boost the industry and make action to decarbonise homes more affordable. What is missing is more financial support for low income households to insulate their homes. One in three households could be in fuel poverty by the autumn and eliminating energy waste must be the Government’s number one priority in the energy security plan to be announced in the coming days.” 

Heather McKay, Policy Advisor, Sustainable Finance at E3G said:

“Energy security and cheaper bills will not be achieved without large scale investment in the net-zero transition. However, today’s Spring Statement shows that we’re still falling short.  The upcoming Energy Security Strategy must be accompanied with a clear and coherent financing plan. Otherwise, the next crisis will soon be on the horizon – and will hit the most vulnerable hardest.” 

Euan Graham, Senior Researcher, Oil and Gas at E3G said: 

“A windfall tax on oil and gas companies would give more support to the millions of households currently having to choose between heating and eating. The UK already offers some of the most generous tax breaks in the world for oil and gas companies, who are currently making unexpected record profits. More drilling won’t help families reduce their bills. These companies are not the ones in need of help this year.” 

Available for comment 

For more information please contact:  

Heather McKay, E3G Policy Advisor, Sustainable Finance 
+44 7955 597676, heather.mckay@e3g.org  

Ed Matthew, E3G Campaigns Director  
+44 7827 157 906, ed.matthew@e3g.org  

Euan Graham, E3G Senior Researcher 
+44 7879384555, euan.graham@e3g.org  

Juliet Phillips, E3G Senior Policy Advisor – green homes 
juliet.phillips@e3g.org  

–  ENDS – 

Notes to Editors 

  1. E3G is an independent climate change think tank with a global outlook. We work on the frontier of the climate landscape, tackling the barriers and advancing the solutions to a safe climate. Our goal is to translate climate politics, economics and policies into action. About – E3G 
  2. For further enquiries email press@e3g.org or phone +44 (0)7783 787 863 
  3. Energy Security Starts At Home – Top 10 Facts The Prime Minister, Boris Johnson is expected to soon set out a new energy security strategy in the wake of the energy supply crisis caused by the invasion of Ukraine.  
  4. Eliminating energy waste and building renewables is fastest way to get off Russian gas. By 2025 energy efficiency, clean heat and renewables could replace four times the gas we import from Russia – faster than the time it takes to build a new oil and gas field. 
  5. Dash from gas: the UK can quit Russian gas this year with rapid home energy saving drive. Energy efficiency measures for homes could cut Russian gas imports by 80% this year. Combined with a renewables drive, this means the UK could eliminate Russia from its gas supply completely in 2022. 

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