Gov loan

paulyp66

If I don't want the 200 pounds gov loan as I feel.it would leave me worse off in long run how do I refuse it

MSE_James

Here's Martin's explanation from a few weeks ago:

https://www.youtube.com/watch?v=ScY2duu4gdU 

GingerTim

You can't.

Ectophile

You don't.  And you'll only be worse off if you aren't paying bills this Autumn (for example someone living with parents) so miss out on the "loan", but you then move out and start paying bills when the repayments start becoming payable.

[Deleted User]

paulyp66 said:

If I don't want the 200 pounds gov loan as I feel.it would leave me worse off in long run how do I refuse it

How exactly would you be worse off? The Government lends you £200 and you pay it back at £40 a year for 5 years with no interest. 

jbuchanangb

The only people who will be badly affected by this scheme will be people who are not energy customers when the £200 is doled out, but become energy customers during the following 5 years and have to pay back £40 per year. The real winners will be the ones who receive the £200 this year, and then cease to be energy customers, so do not pay it back. Example might be that they move out of their current accommodation where they pay the bills into some other accommodation where someone else pays the bills.

cx6

or move abroad, or die, or marry / move in together so two accounts become one

MattMattMattUK

paulyp66 said:

If I don't want the 200 pounds gov loan as I feel.it would leave me worse off in long run how do I refuse it

Have your electricity cut off and the meter removed. 

Ultrasonic

You can't decline it but you won't be worse off as it's an interest free loan.

jbuchanangb

I am going to do my best to end the financial year at 31 March 2023 with £200 credit balance in my energy account, pay down £40 over the next 12 months to have £160 sitting there, and so on. But who knows what circumstances might catch up with us?