Money saving expert Martin Lewis has offered three possible scenarios on what the energy price guarantee's early end could mean for people on fixed tariffs. This comes after the new Chancellor Jeremy Hunt announced on Monday (September 17) that help with energy bills for all households will only last in its current form until April.
As part of a series of U-turns on the mini budget announced by his predecessor Kwasi Kwarteng, Mr Hunt said a review will look at a "new approach" to target support at those worst off after that. The Chancellor has also announced the UK Government will scrap plans to reduce the basic rate of income tax from 20% to 19% in April next year, a move that had been forecast would cost the Exchequer almost £5.3 billion in 2023-24.
Speaking on Monday morning, Mr Hunt confirmed he is ditching many of the measures in the mini-budget to stop speculation. He said the changes were designed to bring "confidence and stability". You can read more about Jeremy Hunt's mini-budget tax changes here.
