We will have a new Prime Minister next week and it is clear to me that we need a bold and optimistic plan for the country that will help people through the cost-of-living crisis and deliver the economic growth we need.
There is a huge inbox for the new resident of 10 Downing Street to tackle but how to help with the price of energy and inflation this coming winter is top of the list.
This has to include a plan to get our economy growing again as well as support for those struggling in Stourbridge and across the country.
Cutting taxes for people and businesses to put more money into pockets and drive investment, using our freedoms outside of the EU to cut red tape and unshackle businesses; and fixing the root causes of the energy supply challenges we face so Britain is not in this position again are the priorities. I believe there is cause for optimism that the UK will weather the storm and emerge stronger.
I also think Liz Truss is the best person to deliver on these priorities.
However, I understand the concern. The crisis driven by Putin's war and the aftermath of Covid is deeply troubling and global in its dimensions. The October energy price cap announcement, while not unexpected, was significant and people are worried. The looming threat of a recession and rising energy prices shows that we cannot continue with business as usual.
I know the new Prime Minister understands all this, whoever they may be, and action has already been taken. Significant measures totalling £37 billion are in place to deal with the crisis.
Almost eight million of the most vulnerable households will get up to £1,200 of one-off support in total this year to help with the cost of living. This includes a cash payment of £650 this year, made in two instalments with the first already in bank accounts.
All domestic electricity customers will receive at least £400 off their energy bills over the winter starting in October Pensioner households will get an extra £300 this year to help them cover the rising cost of energy this winter.
This support will make a difference but economic growth will make a bigger difference and we must do all we can to ensure we achieve this.
For Stourbridge this is crucial. Jobs, investment and growth remain my focus. This includes regenerating Lye. This autumn we shall find out the outcome of the bid for Lye to receive a share of the Government’s Levelling Up Fund. I will keep you updated on the outcome.
We have tough months ahead. I will do all I can to help and support the people of Stourbridge through them.
