A friend sent me this:
This £200 loan-to-keep-your-gas-bill low thingy...
It’s deliberately confusing, and it’s also being misreported. But here’s my understanding to date.
It’s not a rebate, & you won’t get it as a loan.
The government will pay the fuel companies £200 per user this year.
This is to be regarded as money lent by the companies to the users.
So, as an accounting sleight of hand, the companies get the money now, and they also get the asset (the user’s debt) for the future.
Starting in 2024, every user will be surcharged per month on their fuel bills, until the £200 is “paid off”.
I’m told there are no opt outs.
Like all such manoeuvres, this will bear down differentially depending on people’s circumstances.
Consider a house share. Say 4 adults. One fuel bill between them. £200 enforced debt, right? £50 each?
Well, apparently not. The “recoup” will be taken in 2024 *per bill in 2024*.
If those 4 have managed to move out to their own places & get their own fuel bills... they will EACH be “repaying” £200. Not a quarter of it.
I cannot see how this can possibly be legal. I look forward to the challenges.
Frankly, when Martin Lewis the money expert says people should be rioting, it’s hard to disagree. It’s a Poll Tax moment.