We welcome Budget action to bring down Britain’s £5 billion energy debt
Steve Vaid, Chief Executive of the Money Advice Trust, has responded to today’s Budget and Energy Debt Circuit Breaker strategy published by HM Government and Ofgem
Posted October 28, 2026
Steve Vaid, Chief Executive of the Money Advice Trust, has responded to today’s Budget and Energy Debt Circuit Breaker strategy published by HM Government and Ofgem:
“The Government deserves credit for coming forward with a comprehensive strategy to tackle the £5 billion in energy debt which is weighing British households down. Today’s Budget commitment to deliver the long-awaited Debt Relief Scheme in spring 2027 will make a big difference for people who have been at the sharpest end of the energy bills crisis.
“Four in 10 of the people we help at National Debtline have energy arrears, owing an average of more than £3,000 – figures that will only grow as bills continue to rise.
“The Chancellor’s £100 household energy payment is welcome – but we all know that a one-off payment is not a long-term solution, and cost of living pressures mean more people will continue to fall into financial difficulty in the months ahead.
“In these difficult and uncertain times, we need a new whole-society effort to strengthen the safety nets we put in place for people who experience financial shocks. This needs to include making sure that everyone struggling can access the free debt advice that can make all the difference at a critical moment.”
We have led a coalition of charities in calling for a debt relief scheme for energy arrears through its Help To Repay campaign.
