Energy price hike: Lib Dems set out cost of living rescue package, to save struggling families in Hinckley and Bosworth almost £1,000

The Liberal Democrats have set out a "cost of living rescue plan" that would save thousands of struggling families in Hinckley and Bosworth nearly £1,000 this year.

It comes after Ofgem announced a crippling rise to people's heating bills, with the energy price cap set to soar by 54% to £1,971 in April.

Energy bills for homeowners in Hinckley and Bosworth are forecast to soar by an estimated £708 per household in April, according to analysis by the Liberal Democrats. Meanwhile, broadband bills are set to rise by 9.3% with inflation at its highest rate in almost thirty years.

The Liberal Democrats warned that Rishi Sunak's proposals to deal with soaring energy bills will just be "spreading the pain over the coming years" while clobbering local families with tax hikes.

The cost of living rescue package being proposed by Hinckley and Bosworth Liberal Democrats includes taking £300 off struggling families' heating bills by doubling and expanding the Warm Home Discount, funded through a "Robin Hood" tax on the super profits of oil and gas companies. The party would also scrap the planned National Insurance tax hike being introduced by the Conservatives in April, and ensure low-income families can access cheaper broadband deals.

As many as 5,949 households in Hinckley and Bosworth ould stand to benefit from the full package of support, saving them up to £975 each a year. Whilst 26,751 households would save up to £600 thanks to the scrapping of the National Insurance hike and the Stealth Tax on the income tax personal allowance. 1,868 poorer pensioners would receive the expanded Warm Home Discount while 9,096 struggling families would gain access to cheaper broadband deals, helping them cope with the cost of living crisis.

In total, the package represents savings of 20,861,283 across Hinckley and Bosworth for 37,715 households feeling the pinch.

"Energy bills are going through the roof, forcing families in our community to choose between eating and heating. But all the Conservatives are doing is clobbering people with an unfair tax hike and spreading the pain over the coming years.

"The Liberal Democrats' cost of living rescue plan would wipe up to £1,000 off the bills of 37,175 struggling families in Hinckley and Bosworth by scrapping April's tax hike, offering support to the most vulnerable, and insulating homes to slash energy bills in the long term.

"We are fighting for a fair deal for people in our community who are being let down by a Conservative Government that is taking them for granted."