In an emergency statement, Mr Hunt said the energy price guarantee – which had been due to cap prices for two years – will end in April
He said he is abandoning plans to cut the basic rate of tax by 1p – which had been due to be brought forward to April – and that it would remain at 20p in the pound until the country can afford to reduce it.
Chancellor Jeremy Hunt speaking to the nation from the Treasury in London. Picture: Marc Ward/PA Wire In a televised statement, the Chancellor – who only took office on Friday – warned of more"tough" decisions to come. He said:"Governments cannot eliminate volatility in markets but they can play their part and we will do so.”
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