Jeremy Hunt has announced that help with energy bills for households will only last until April next year. The newly-appointed Chancellor confirmed the decision during an economic statement on Monday (October 17).
Mr Hunt said there would be a review to look at a “new approach” to target support at those worst off after April. The Energy Price Guarantee, which was announced in Kwasi Kwarteng's mini-budget in September, set out to ensure that a typical household in Great Britain paid around £2,500 a year on their energy bill.
It was meant to last for the next two years, starting from October 2022. But during the emergency statement, the new Chancellor said: “The biggest single expense in the growth plan was the energy price guarantee. Read more:LIVE: Jeremy Hunt makes statement on government's plans amid U-turns and 'mini-budget' chaos - latest updates "This is a landmark policy supporting millions of people through a difficult winter ad today I want to confirm that the support we are providing between now and April next year will not change.
But beyond that, the Prime Minister and I have agreed it would not be responsible to continue exposing public finances to unlimited volatility in international gas prices. "So I’m announcing today a Treasury-led review into how we support energy bills beyond April next year.
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