IMF: “Well-targeted” Initiatives To Lower Energy Prices Are Needed By The U.K.

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The International Monetary Fund (IMF) stated on Tuesday that the United Kingdom should consider further support for low-income households that will see a significant increase in their energy costs when regulated rates rise in April.

A date for a new energy price cap in the United Kingdom will be established for April 2022, according to the Office of Gas & Electricity Markets. It is predicted that household expenses, as well as gas and electricity.

If the British government wants to help low-income families more, “very specific, well-targeted support” is needed, IMF Deputy Managing Director Gita Gopinath said at a news conference.

“This should be well-targeted support to highly vulnerable households who are having to face very high cost increases … That would be useful. These energy costs are going to go up in April further,” she added.

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Written by Olivia Woods

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