Monday 15 August 2022 12:40 AM Liz Truss could revive pensioners' petrol voucher scheme that was reportedly ... trends now
Liz Truss will look at reviving a plan said to have been blocked by Rishi Sunak in which oil companies fund petrol vouchers for pensioners.
Downing Street officials held talks with the bosses of big firms on the possibility of a voluntary scheme to ease the cost of living.
Under the proposals, the oil giants would have funnelled some of their profits into a fund that would have been used to help those who are struggling.
Bernard Looney, the chief executive of BP, is understood to have been a supporter of the ideas and was prepared to put in more than £1billion.
Instead of going ahead with the plan as chancellor, Mr Sunak decided instead to impose a windfall tax on oil and gas firms.
‘Rishi blocked it because he is only keen on ideas he thinks of himself,’ a source told the Sunday Times. Last night a source close to Miss Truss said she would look again at the proposals for a voluntary scheme if she becomes PM.
Liz Truss, the Tory leadership favourite, will look at reviving a plan - said to be blocked by rival Rishi Sunak - to fund petrol vouchers for pensioners
The Tory leadership favourite has ruled out imposing a further windfall tax on oil and gas firms, but her camp has said she will not scrap the existing levy introduced by Mr Sunak earlier this year.
Petrol prices are already beginning to ease thanks to plummeting wholesale rates, just weeks after they hit a record high. Wholesale prices fell 10p a litre by the start of July, 20p by the middle of July, and 30p from August 4.
The AA has said prices at the pumps are on course to dip below 160p a litre.
Figures compiled by the motoring group last week showed petrol was on average 175.2p a litre, which is substantially down on the record of 191.5p, set on July 3.
Diesel also appears to be tumbling, from 190.01p a litre a fortnight ago to 185.9p last week. Mr Sunak cut fuel duty by 5p a litre in
