It’s Halloween, Rishi and Jeremy, but you don’t need to be scared of the dark: You can keep the lights on and solve the UK’s energy problem once and for all!
The effect of installing insulation across the nation, could in one fell swoop, alleviate Britain’s domestic energy and cost of living crises while supporting the UK’s net zero commitments.
An open letter to the UK Prime Minster Rishi Sunak and Chancellor of the Exchequer Jeremy Hunt urging the adoption of a bold plan to insulate and install solar panels on 20 million homes in Britain.
Dear Prime Minister and Chancellor,
The decision has been taken to bring forward the review of the Energy Price Guarantee to April 2023. We urge you to pursue an alternative, more effective, and fiscally conservative policy which will drive a recovery that secures a long-term advantage for the UK, substantially curtail our dependence on gas, and lower consumer energy costs (as recommended by the Climate Change Committee).
The Energy Price Guarantee, as introduced by your predecessors, was stated to cost £60 billion in the first six months with media estimates suggesting a rise to £200 billion over the originally proposed two-year period. This would be a huge financial burden to be borne by current and future generations.
£200 billion is more than enough to insulate and place solar panels on 20 million British homes. This should be done immediately with focus and determination akin to a war effort.
The effect of such a move would, in one fell swoop, alleviate Britain’s domestic energy and cost of living crises while supporting the UK’s net zero commitments. It would also help prevent the recurrence of such crises in the future.
From individual families’ perspectives, energy insecurity would become a thing of the past. The British people would be insulated financially — and literally — from the extremes of future global energy crises. Mobilising the private sector to meet this need would also bring a much-needed boost to the UK economy.
From your government’s perspective there is only upside. This is capital investment, not subsidies which would need to be paid for by multiple generations of taxpayers. Such investment would not come only from the government: massive amounts of private capital would be mobilised.
It would also be possible to create a repayment schedule for those householders who can afford it. Coupled with the ongoing savings generated by the initial capital investment, this approach would enable installation costs to be recouped over a period of years without raising people’s bills beyond current levels.
Handled well, this intervention will at worst cost the government — and ultimately the tax payer — only a small fraction of the original investment, leaving little to no financial burden on future generations.
This is a truly Conservative policy: pro-business, pro-growth, pro-environment, fiscally conservative, and brilliant in its simplicity.
We urge you to implement this plan immediately to bolster energy security and to avoid the need to extend the price cap guarantee in six months time. We offer you our support in this endeavour.
Yours faithfully,
