Rishi Sunak is poised to halve financial support on energy bills for businesses, amid concerns about the cost.
When she was prime minister Liz Truss announced a six-month package of support for businesses in October that capped wholesale energy prices on electricity and gas. That is expected to cost £18 billion by the time it ends on March 20.
Next month Jeremy Hunt, the chancellor, will announce a 12-month extension to the scheme but with the level of support more than halved, amid concerns about taxpayers’ exposure to fluctuating energy prices.
Two approaches are being considered. Hunt said in his autumn statement that most businesses would not receive extra support, arguing that it was “not sustainable”. He said that the level of support offered
