A grant of £400 will help struggling households cope with the energy bills crisis.
Previously, a £200 loan in place for UK families was expected to be paid back.
Rishi Sunak announced today this would no longer be the case, and increased its sum to £400.
All households with a domestic electricity connection will be automatically eligible for the grant.
Mr Sunak said: ‘The outlook for energy prices has changed. I’ve decided those repayments will be cancelled. So, for the avoidance of doubt, this support is now unambiguously a grant.
‘Furthermore, we have decided that the £200 of support for household energy bills will be doubled to £400 for everyone.’
He told the Commons: ‘We are on the side of hard working families with £6 billion of financial support.’
The grant comes in the form of a council tax rebate to households.
Energy suppliers will deliver the discount to households with a domestic electricity meter over six months from October.
Mr Sunak also has also unveiled a windfall tax on energy firms.
The Chancellor previously was against the idea, claiming it would hamper these companies’ investments and raise prices for consumers.
But he later appeared to change his tune, saying ‘no options are off the table’ if he doesn’t see ‘significant investment back in the UK economy’.
This is a breaking news story, more to follow soon… Check back shortly for further updates.
Got a story? Get in touch with our news team by emailing us at [email protected] Or you can submit your videos and pictures here.
For more stories like this, check our news page.
Follow Metro.co.uk on Twitter and Facebook for the latest news updates. You can now also get Metro.co.uk articles sent straight to your device. Sign up for our daily push alerts here.
Source: Read Full Article