Energy bill package will cost £60bn in first six months, says chancellor Kwasi Kwarteng

A package to help the public with energy bills will cost £60bn, Kwasi Kwarteng announced during the government’s fiscal event today, 23 September.

The chancellor made the announcement during the “mini-budget” in the House of Commons, detailing costings of his plans for the UK economy.

“The total cost of the energy package for the six months from October is expected to be around £60bn,” Mr Kwarteng said.

A £2,500 cap on household energy bills and existing £400 discount will cut average bills by an expected £1,400 this year, the chancellor added.

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