MP Mary Glindon column: Action needed NOW to tackle cost of living crisis

Two thirds of households – 45 million people – face fuel poverty, spending over 10% of net income on cooking and heating. That includes 90% of couples on basic pensions.

People on average net wages of £2,000 a month will lose two pay packets to energy costs.

Consumers will spend less, which will squeeze and destroy small businesses.

Inflation has hit a 40-year high of over 10% and could go higher.

Basic foodstuffs will skyrocket. The cost of mortgages will double. Savings will be eroded. Eating versus heating will be a choice for many. Destitution and debt will soar.The mammoth crisis is driven by Putin’s war against Ukraine, which has boosted global energy prices.

Much of our energy simply evaporates into thin air. British houses are the least energy efficient in Europe. Insulating 19 million homes would slash the average family bill by £1,000 a year.We have done little to reduce consumption by switching to wind power and solar power as well as nuclear and hydrogen.

We also see the impact of climate change in the sweltering summer heat, firestorms, and now flash floods. Curbing foreign energy cuts costs and also tackles climate change. Yet the Prime Minister tops up his tan and his potential successors are wooing a tiny sliver of the population, Conservative members.

My party would freeze the energy price cap and save £1,000 this winter. That’s £50 million in North Tyneside. The £29bn plan will be funded by further taxing oil and gas producers, which are making record profits. That will also reduce inflation.The cost of living crisis is unsustainable. Action this day, as Churchill used to insist.