Budget Announces Electricity Prices Set to Increase

Budget Announces Electricity Prices Set to Increase

As well as increased taxation announced in yesterday’s budget plan Electricity Prices are set to increase from September onwards.

A 7% increase will be seen across the board as yet another money saving initiative.

The Government had to plug an £85 million hole with this budget, higher income tax is set to increase to 20% also.

7% of the Government’s reserve funds which amount to over a billion pounds in total also had to be used in making up the deficit.