Martin Lewis has issued a warning to the government following Jeremy Hunt's mini-budget U-turn.
The new Chancellor dramatically scaled back support for household energy bills and ditched tax cuts promised by his predecessor Kwasi Kwarteng as he seeks to restore stability following weeks of turmoil in the financial markets. In an emergency statement, Mr Hunt said the energy price guarantee - which had been due to cap prices for two years - will end in April after which time the Government will look to target help on those most in need.
Mr Hunt said: "The biggest single expense in the growth plan was the energy price guarantee. This is a landmark policy supporting millions of people through a difficult winter ad today I want to confirm that the support we are providing between now and April next year will not change.
READ MORE: Warning to homeowners as energy bills help cut in Jeremy Hunt's mini-budget U-turn
"But beyond that, the Prime Minister and I have agreed it would not be responsible to continue exposing public finances to unlimited volatility in international gas prices. So I'm announcing today a Treasury-led review into how we support energy bills beyond April next year.
"The objective is to design a new approach that will cost the taxpayer significantly less than planned whilst ensuring enough support for those in need. Any support for businesses will be targeted to those most affected and the new approach will better incentivise energy efficiency."
Reacting to the news, MoneySavingExpert founder, Martin Lewis, warned that due to "huge" energy rates the government will still need to provide support following the April deadline.
Writing on Twitter, Martin said: " [Mr] Hunt says energy price guarantee to remain until April. After that treasury review on how to support energy prices. Plus all mini budget tax measures (barring stamp duty and NI cut) now not happening, so no cut in basic rate.
"Trussenomics totally hunted down and gone."
He continued: "While energy intervention was desperately needed - a universal energy price guarantee was always expensive and poorly targeted. The post-April support will still need reach a decent way up the net and support middle earners, energy rates are still huge."
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