UK’s Hunt Says Energy Price Fall Isn’t Windfall for Treasury
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Chancellor of the Exchequer Jeremy Hunt said the fall in energy prices won’t benefit the UK’s public finances, even though it lowers the cost of helping households with their utility bills.
The projected decline in the cost of the government’s Energy Price Guarantee, which caps the maximum costs per unit of power and gas for ordinary Britons, is balanced by a decline in revenues from a tax on oil and gas company profits, Hunt told reporters in London on Tuesday.