RISHI Sunak could announce plans to help Brits with their soaring energy bills TOMORROW, it has been reported.
The fast-tracked move, initially planned for summer, is expected to include a major increase in the Warm Home Discount Scheme, the Daily Mail reports.
It comes after Ofgem warned yesterday it is expecting an energy price cap “in the region of £2,800”.
Officials remained tight-lipped about the support package last night, with sources saying the details still need to be finalised.
But a Government source told the Mail it was “possible” the package could be unveiled tomorrow.
It is expected to include a major increase in the Warm Home Discount Scheme, which could go up from £150 to £500 for three million low-income households.
A planned increase in benefits next year may also be brought forward along with an offer to help the ‘squeezed middle’.
Options are said to include a government-funded direct discount on energy bills or a council tax rebate.
Ministers have also discussed a temporary VAT cut, although the Treasury is said to have reservations about the idea because it would not ease fuel or food costs.
Mr Sunak had planned to wait until July to unveil the package, when Ofgem will be able to give a more precise estimate of the likely rise in the price cap in October.
But, the energy regulator’s boss yesterday revealed he was writing to the Chancellor to say the cap is likely to rise to £2,800.
Torsten Bell of the Resolution Foundation, an independent think-tank, said Ofgem’s decision to write to Mr Sunak “means one thing – a Government announcement on extra help is coming in days”.
Mr Bell said the package would have to be worth well over £10billion to help struggling families.
If the details are not ironed out in time, any announcement is likely to be delayed until early next month.