HomeEconomyEnergy prices: British government cuts aid to households to 6 months

Energy prices: British government cuts aid to households to 6 months

New finance minister Jeremy Hunt unveiled new budget measures on Monday, reversing the plan announced three weeks ago by Prime Minister Liz Truss.

The British government announced on Monday that it will limit a freeze on household energy bills to six months, when it was initially planned for two years. A change that aims to protect public finances “from the volatility” of gas prices.

This measure will be revised to “implement a new approach that will cost taxpayers much less than expected” and will be aimed at “those most affected,” he said.

Almost all fiscal measures canceled

Jeremy Hunt also indicated that “almost all fiscal measures” announced three weeks ago by Prime Minister Liz Truss would be cancelled.

These announcements are intended, in particular, to reassure markets mired in turmoil over previous announcements by the government of Liz Truss, whose days now seem numbered.

Author: NLC with AFP
Source: BFM TV

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