Is Jeremy Hunt about to announce an end to the energy price cap?
Jeremy Hunt: is he really a serious Chancellor?
If he lays all the burden on the poor, we’ll know that Jeremy Hunt is not a serious Chancellor of the Exchequer.
But then, he wasn’t a serious Health Secretary either, if you consider the damage he did to the National Health Service.
He seems likely to end the energy price cap next April. That’s not necessarily a bad thing because the cost of gas is plummeting:
Wholesale gas utterly collapsing in price.
• 702p per therm on 26th Aug
• 235p per therm on 17th OctCut energy bills now.
— Tory Fibs (@ToryFibs) October 17, 2022
This change won’t be reflected in prices for a little while, but it should be by April. If prices don’t come down, then the government will need to take action to compel the energy firms to rein in their greed.
That will be fun to watch!
Other measures are expected to u-turn on more of the measures in previous Chancellor Kwasi Kwarteng’s ‘fiscal event’ in September.
But how is he going to fill the £70+ billion hole in the public finances that was created by Kwarteng?
Have YOU donated to my crowdfunding appeal, raising funds to fight false libel claims by TV celebrities who should know better? These court cases cost a lot of money so every penny will help ensure that wealth doesn’t beat justice.
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