Rishi Sunak is reportedly drawing up plans to provide more financial help to families facing further increases in energy bills in the wake of the Russo-Ukraine war.
The chancellor is expected to outline details of a two-stage intervention to ease the cost of living crisis during his spring statement on 23 March, according to the Sunday Telegraph.
A government source told the paper that “he should be judged by his previous actions, and people should take confidence in the fact he has acted before when there has been a time of need. People should trust that”.
Sunak outlined a £9bn package in January that will give every household at least £350 off their energy bills – with £200 of it to be paid back to the government over the next five years – in the face of soaring energy prices.
However, there has been renewed pressure for more help to households with energy prices expected to surge further as supplies of Russian gas to Europe are disrupted by Vladimir Putin’s invasion of Ukraine.
Energy UK, a business body, is predicting that energy bills will increase by £1,000 between next month and October.
It would come after bills would have already increased by £846 from October 2021 to April 2022.
Brits are being hit with higher prices across the board, with the Consumer Price Index (CPI) growth hitting 5.2 per cent in January – a 30-year-high.
It is expected to hit between 8 and 9 per cent this year.