SIR Keir Starmer finally came up with his solution to Britain’s soaring energy bills crisis yesterday — freezing the price cap.
Jetting back from his Spanish holiday, the Labour leader promised a £29billion plan to help hard-up families save around £1,000.
Tory critics accused him of inventing “magical solutions” and fiddling the numbers — which could lead to higher taxes in the future.
It is a similar plan to one from Scottish Power boss Keith Anderson back in April, which was dismissed by then-Chancellor Rishi Sunak.
He wanted to freeze bills for two years — with banks lending energy firms extra cash from a deficit fund to be repaid over the next decade, possibly through higher bills or hiking taxes.
But Labour said it would help raise the extra cash by beefing up the windfall tax on the oil and gas giants making huge profits.
It said holding bills down would drive down inflation by four per cent.
Winter fuel bills are predicted to shoot up to £3,500 in October and even further in January, risking plunging millions into poverty.
Sir Keir said: “Labour’s plan to save households £1,000 this winter and invest in sustainable British energy to bring bills down in the long-term is a direct response to the national economic emergency.”
Energy Minister Greg Hands said: “Labour’s seemingly magical solution is to just wish it all away — that will have consequences.”
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Writing in The Sun today, Shadow Chancellor Rachel Reeves warns: “We are in the midst of a national economic emergency. But Labour says enough is enough.”
But her party admitted its complicated plan would mean unpicking the law to rip up the price cap before autumn.