New research released by KPMG UK highlights the scale of reduction in consumer spending so far in 2023 and indicates how households may respond when they no longer receive energy bill support payments from April. T
he UK Government’s Energy Bills Support Scheme provided a monthly discount of £66/£67 from October to March, but unlike the £2,500 Energy Price Guarantee which has been extended until July, it has now ended.
Half of consumers surveyed by KPMG UK as part of its Consumer Pulse study, said they would cut non-essential spending, while a third indicated they would be using savings to help meet energy costs from April onwards to compensate for the loss of the monthly state support.
