Jeremy Hunt gives update on energy cost of living payments
"We always look at what else we can do, but we also have to be responsible with public finances."
He added: "At the same time as energy prices have come down, so too have our receipts from the windfall taxes. So we have to look at everything in the context of what is responsible for public finances, because if we don't, we'll just see interest rates go up and then everyone who has a mortgage up and down the country will face a different kind of cost."
Wholesale energy prices have tripled due to the war in Ukraine, causing the government to subsidise bills for households. But analysts now say wholesale prices are falling, which means that the average bill could hit £2,200 from July., which means that they might not fall at this point. As well as capping the average cost of energy for households, the government has paid for every UK household to have a £400 discount on bills - but this ends in March.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
No 'Major' New Help With Energy Bills, Says ChancellorJeremy Hunt said there was no extra 'headroom' to stop energy bills rising from April.
Read more »
Jeremy Hunt’s four-pillar plan to boost productivity“I reject the case for ‘declinism’ about Britain’s prospects,” writes Jeremy_Hunt in a guest commentary. “I am most optimistic about our strength in the growth industries that will shape the 21st century,” the chancellor says
Read more »
Energy bills extra support ruled out by chancellorJeremy Hunt says the government does not 'have the headroom' to give household additional help.
Read more »
Major bin trial to begin within weeks for 3,500 householdsThe food waste trial is part of broader efforts to improve recycling rates across Nottingham.
Read more »
Tax rise of at least £50 for Notts households approvedThe tax rise has been approved despite claims from some that it will 'exacerbate' the cost of living crisis for vulnerable residents
Read more »
Jeremy Clarkson takes swipe at James May for supporting 'leftie' speed limitsJeremy Clarkson has criticised James May after the latter advocated for lower speed limits in certain areas. Clarkson previously said he'd like to ‘stick some cocktail sticks into the eyes’ of the person who came up with speed limits.
Read more »