UK Set to Cut Business Energy Support by 85%, Telegraph Says
- Aid to be worth £5 billion over 12 months, Telegraph reports
- Hunt to reveal post-April plan for business support next week
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The UK is set to reduce the level of support it gives to businesses to help with their soaring energy bills by 85% from April, the Telegraph newspaper said.
British firms currently benefit from a six-month program of energy aid ending in March worth £18 billion ($21.5 billion), which is due to be replaced by a 12-month package worth £5 billion, the Telegraph reported, citing anonymous government sources. The new figure is “largely agreed,” the newspaper said.