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PM Burnham Unveils Bold Plans: Energy Costs Cut, Pension Rules Shift, Public Control Boosted
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Moneycontrol•29-09-2026, 20:31
PM Burnham Unveils Bold Plans: Energy Costs Cut, Pension Rules Shift, Public Control Boosted
- •UK Prime Minister Andy Burnham announced plans for greater public control over energy, water, and housing, alongside an adjustment to the state pension triple lock from 2030 to fund a new National Care Service.
- •Burnham confirmed the creation of the Great British Grid (GB Grid), a publicly owned body with access to 4 billion, to invest in Britain’s electricity network, accelerate renewable energy rollout, and increase competition.
- •The state pension triple lock will be adjusted from April 2030, if Labour wins the next election, to rise by at least inflation or 2.5%, removing the link to average earnings growth to generate savings for the National Care Service.
- •Plans include paving the way for greater public ownership of water companies and empowering councils to address poor-quality and empty homes.
- •Burnham also stated Britain needs to reconsider its long-term relationship with the European Union, arguing Brexit has harmed economic prospects, with options to be set out later this year.
Key Questions Answered
From April 2030, if Labour wins the next general election, the state pension triple lock will be adjusted so that pensions rise by at least the rate of inflation or 2.5%, removing the link to average earnings growth.
The publicly owned Great British Grid will invest in Britain's electricity network, accelerate the rollout of renewable energy, and help address connection bottlenecks by working with private-sector and network companies.
A proposed water bill will create a route for water companies to be brought into public ownership. Additionally, local councils will receive greater powers to take control of empty homes, bring them back into use, and acquire poor-quality properties from landlords.
