The government will extend the energy price guarantee for a further three months, the Treasury has confirmed. It comes ahead of today's full budget, where Chancellor Jeremy Hunt will lay out the country's economic forecast for the coming year.
Announcements on childcare reform, benefits reform and pensions allowances are all expected to form part of the Budget when Mr Hunt addresses MPs later today.
The guarantee - which ensures average annual household bills are capped at £2,500 - had been due to rise to £3,000 in April.
This morning's announcement means the current cap will stay in place until mid-June, which the government says will save a typical household around £160. READ MORE: Authorities 'underestimated' risks posed by man who went on to kill sister while on caravan holiday Prime Minister Rishi Sunak said: “We know people are worried about their bills rising in April, so to give people some peace of mind, we’re keeping the energy price guarantee at its current level until the summer when gas prices are expected to fall. “Continuing to hold down energy bills is part of our plan to help hardworking families with the cost of living and halve inflation this year.” Support of £400 that was available to households over the winter in monthly instalments is still due to end on April 1.
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