Jeremy Hunt warned that taxpayers will not underwrite high domestic energy bills for longer than another 18 months as he warned families had to ‘change their behaviour’ and use less power.
The Chancellor said the current Energy Bills Support Scheme was projected to cost up to £120billion and its ‘cushion’ would be removed in the spring of 2024.
Under questioning from MPs this afternoon he said that the country needed to reduce its exposure to ‘what Putin chooses to do in Ukraine’.
Ministers are underwriting home gas and electricity costs. In his Autumn Statement last week the Chancellor extended the support until April 2024, but increased the cost the average household will pay from £2,500 to £3,000 from April 2023.
Speaking to the Treasury Committee about the statement Mr Hunt suggested it will be further scaled back in the future, with support instead being focused on the most vulnerable.
‘In the long run we’re going need everyone to help us crack this problem if we’re not…