Chancellor Jeremy Hunt may employ £30billion Budget windfall to help families face rising energy and fuel bills

• Think tank says Hunt is likely to spend £3B keeping energy bills locked at £2,500
• Read more: Chancellor gets pre-Budget boost with surprise £5B govt surplus

A £30billion Budget windfall could be employed by the Chancellor to support families facing rising energy and fuel bills, according to a think-tank.

In next week’s Budget, Jeremy Hunt is expected to use this wriggle room to extend a cap on typical household bills and scrap a planned fuel duty rise.

The Resolution Foundation said despite the unexpected windfall for the public finances, with borrowing this year around £30billion lower than official forecasts, Mr Hunt still faces ‘tough choices’.

The think-tank said Mr Hunt is likely to spend around £3billion keeping energy bills locked at £2,500 into the summer. 

He will also prevent the 12p increase in fuel duty, costing around £5billion.

Jeremy Hunt is expected to extend a cap on typical household bills in next week’s Budget

Source: Read Full Article