Householders near new electricity pylons and substations will receive up to £1,000 off their annual bills under plans to be unveiled by Jeremy Hunt in the Autumn Statement.
The Chancellor will make the announcement as part of a drive to slash the time it takes to deliver energy infrastructure as Britain transitions to net zero.
The news comes as the Chancellor puts the final touches to Wednesday’s statement, which is widely expected to include an inheritance tax cut and investment tax cut for businesses.
Mr Hunt has billed it as an “Autumn Statement for growth”.
However, in a striking intervention ahead of the fiscal event, the Business Secretary Kemi Badenoch said the Treasury was not the right department to lead economic growth.
In an interview with The Telegraph, Ms Badenoch said it made more sense for her own department to take responsibility for growth.
“One of the things which I think business needs is a department focused on economic growth,” she said.
“The Treasury is very much a finance ministry and having an additional department that’s looking at measures that will improve growth is key. That is what I have built with the merger of business and trade departments.”
In July, The Telegraph revealed plans to fast-track hundreds of miles of overhead cables and pylons to phase out fossil fuels and reconfigure the grid for an explosion in the number of electric cars.
However, the Government is concerned about a potential backlash from people opposing new developments in their neighbourhoods.
To help defuse local opposition, Mr Hunt will announce that those living near to new transmission infrastructure will receive up to £10,000 off their bills over 10 years.
The rebates are part of a package of reforms aimed at halving the time it takes to deliver new electricity networks from 14 to seven years.
A new “premium planning service” will provide advice to accelerate major planning applications.
Nationally significant low-carbon energy infrastructure will be designated as a “critical national priority”, meaning there is a presumption in favour of approval, while the rollout of electric vehicle charging points will also be prioritised.
‘Keep energy costs down’
A Treasury source said: “Expanding the grid will unlock global investment for Britain and bring improvements for people across the country, with energy security that will keep energy costs down.
“And by speeding up the planning system – including the rollout of EV chargepoints – we will be tackling one of the most common issues raised by businesses who are keen to invest in the UK.
“This Autumn Statement will show that it’s the UK Government which is taking the long-term decisions to deliver the changes we need.”
It comes amid a warning from the national infrastructure tsar that the UK is at risk of missing its 2035 net zero targets, such as the ban on new petrol and diesel cars.
In an interview with The House magazine, Sir John Armitt, the chair of the National Infrastructure Commission, said he would be “surprised” if the 2035 targets were met.
He also said the Government was moving too slowly on new nuclear energy.
“At the moment, we’re not making any progress really on Sizewell C, there is no deal being done with EDF... so we don’t see nuclear as really having a significant part to play in any new stations other than Hinkley before 2035,” he said.
“I would say I’m not sure the Government’s really serious about nuclear.”
Tackling late payments
The Telegraph understands that Mr Hunt’s Autumn Statement will also include a range of measures aimed at tackling late payments to small businesses.
The Chancellor will announce a commitment to blocking firms from bidding for large government contracts if they fail to pay their own suppliers within an average of 55 days from April 2024.
The intention is to reduce this to 45 days in April 2025 and 30 days at a future date.
In 2022, small- and medium-sized businesses were owed on average an estimated £22,000 in late payments.
A Government source said: “The Government hears from many small businesses that late payment is a huge issue. Evidence tells us that 40 per cent of invoices are still not being paid according to agreed terms.
“That’s why we’re beefing up the UK’s already world-leading prompt payments regime to protect small businesses and make sure prompt payment poor performers shape up.”
Labour has meanwhile claimed that its own economic plans would cut household bills by up to £3,000 a year over the next decade through action on energy, petrol and mortgages.
Rachel Reeves, the shadow chancellor, said: “The economy is not working for working people. After 13 years of economic failure, families are worse off, with higher taxes, higher mortgage payments and prices still rising in the shops.”
She added: “Under Keir Starmer’s leadership, the Labour Party has changed and is now the party of economic responsibility. A Labour government’s priority would be growing our economy so we can boost wages, bring down bills and make working people in all parts of the country better off.”
https://news.google.com/rss/articles/CBMiXWh0dHBzOi8vd3d3LnRlbGVncmFwaC5jby51ay9wb2xpdGljcy8yMDIzLzExLzE5L2NoYW5jZWxsb3ItcGxhbnMtdG8tdGFrZS0xay1vZmYtZW5lcmd5LWJpbGxzL9IBAA?oc=5
2023-11-19 07:00:00Z
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