Help for energy bills will be extended, but it will be less generous, Hunt confirms.
This means millions of households will see their energy bills go up by hundreds of pounds a year from April.
A household using a typical amount of gas and electricity will pay ยฃ3,000 annually, up from ยฃ2,500, as the Energy Price Guarantee rises. Without the governmentโs support, experts have said the figure could have hit ยฃ3,700.
Hunt added that “the most vulnerable” will receive additional cost of living payments next year “of ยฃ900 to households on means tested benefits, ยฃ300 to pensioner households and ยฃ150 for individuals on disability”.
He said the government will also provide a further ยฃ1bn of funding to enable a 12-month extension to the Household Support Fund “helping local authorities to assist those who might otherwise fall through the cracks”.
He will also bring forward “a new targeted approach to support businesses from next April”.
Stressing that he wants to “go further”, he confirmed that the government will cap the increase in social rents to a maximum of 7% in 2023-24.
“That is a saving for the average tenant of ยฃ200 next year,” he noted.
Leave a Comment