Chancellor Jeremy Hunt reverses 'almost all' mini-Budget tax cuts

Jeremy Hunt has announced that he is watering down the Government's energy price guarantee. It will now provide universal support until April but support will then be targeted.

He said: "Finally, 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. And today I want to confirm that the support we are providing between now and April next year will not change.

"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 am 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."

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