He added there will be a review of what support can be provided if energy costs continue to rise.
"Beyond that, it would not be responsible to expose the public finances to volatility in the markets.”He scrapped the tax cuts previously announced by former chancellor Kwasi Kwarteng, who was sacked last week by Prime Minister Liz Truss.
The Government said the objective of the review of energy bills support is to “design a new approach that will cost the taxpayer significantly less than planned whilst ensuring enough support for those in need”. On taxes, the Chancellor announced a reversal of almost all of the tax measures set out in the Growth Plan that have not been legislated for in Parliament.Cutting the basic rate of income tax to 19% from April 2023.
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