Ed Miliband has pledged to freeze energy prices for 20 months should he be elected to office. However, as a former Secretary of State for Energy and Climate change, Mr Miliband should be well aware that the profits energy companies make are dwarfed by tax contributions, including green levies, many of which Mr Miliband presided over. Simply reducing the tax burden his Government and former department placed on the energy sector would have a vastly more profound effect on energy prices, and the cost of living.
Below is Labour’s Energy Legacy.
Gas Prices UP 133%
Electricity Prices UP 69%
Coal Prices UP 120%
Water Prices – Consistent (6% rise)
Comparing the sharp price rises in Gas, Electricity and Coal to the consistency of Water prices shows the real cost of Labour and their Green Tax Levies.
The biggest cause of the energy prices hike has little to do with the energy companies taking 2-4% profit margins as Labour and Miliband claim, but instead is a direct result of Government intervention in the energy market. Most of what you’re paying is tax.
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