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.