Forum Topic

Energy Price Cap

Am I right in thinking that this nice new figure is before a thumping amount of VAT is slapped on it?If so, no wonder the government isn't too bothered.

Sarah Vickers ● 986d9 Comments

You fail to see the narrative.. the higher the trading price of commodities, goes in Americans favour as things are traded in US dollars. Russians are happy selling their oil and gas at a discount to "friendly nations in Asia, far east and Africa and not to forget Hungary who happens to think differently from the EU about its citizens.. We like others choose to stop buying from the Russian and this has a huge cost attached as there is limited supplies to meet demand. It will certainly only get worse going forward towards winter and prices have some way to go.. This government like previous failed to secure a better deal when they sold off our state owned utility companies to chase the capitalists dream 40years ago now we have are selfs only to blame.

Nik Ozegovic ● 983d

Slaves to the Americans? Regarding energy I'd have thought we are slaves to Putin?

Rosco White ● 983d

This is the price to being slaves to the Americans. EU and UK have a choice but chose not to buy cheaper gas and oil... But instead 15m plus residents will have a choice to either heat or eat. I doubt if Boris and his friends will need to make that decision in the coming months. This government has lost the plot. Just think 25% of utility bills are made up of taxes.  And what about standing charges that have trebled in the last year why is that? Putin messing with the cables. No just greedy business cashing in on us

Nik Ozegovic ● 984d

There's not much luxury in starving to death in the cold!

Sarah Vickers ● 984d

I meant, of course, the VAT on our energy bills. Even though Electricity & Gas is Reduced Rate at 5%, every little bit helps ....... 😊

Rosco White ● 984d

Capitalism works only for the few.. this government is making a packet out of us all in taxes, the cost of living is hitting us all. The only people who will benefit from a reduction in VAT will be people who have money to invest and spend. People with little or no money will suffer the greatest as VAT is a luxury tax.

Nik Ozegovic ● 984d

Be nice if Government at least waived the VAT, which they will do when people take to the streets?It worked with the Poll Tax ...............(Which I wasn't against.)          😁

Rosco White ● 986d

Well, yes indeed.

Sarah Vickers ● 986d

If I understand correctly, the “cap” is calculated by taking the wholesale cost of gas and electricity, adding in various operating costs and adding VAT at 5%. So we will be paying much more VAT just because we are paying 5% of a much bigger sum.

Norman Redfern ● 986d