Supporting hard-working families and people

The Prime Minister has urged energy firms to reduce petrol prices and household fuel bills – and has re-affirmed the Government’s commitment to doing whatever is necessary to protect the stability of the British economy.

To deliver this, the Government is acting to help ease the pain of the credit crunch for hard-working families and people:

• A family tax cut of £120 for 22 million basic rate taxpayers.

• A new £1 billion package of measures to help families on middle and modest incomes permanently cut their energy bills.

• Postponing the planned rise in fuel duty saving businesses and families millions of pounds.

• More help for first time buyers struggling to get a foot on the housing ladder with a one-year Stamp Duty holiday for all properties sold for up to £175,000.

• Supporting the housing market through the Crosby review, help for first time buyers and action to buy up empty properties for affordable homes.

• Helping people with rising fuel costs through increasing the winter fuel allowance, increasing investment in insulation and freezing fuel duty.

• Making an additional one off increase in the Winter Fuel Payment of £100 for over-80s households and £50 to the over-60s.

As the Prime Minster said today, doing what we are doing to help small businesses, help families with their fuel bills and help mortgage holders, and, most of all, get the banks to restart lending, the Government can take this country through this very difficult time.