A VAT cut and a windfall tax on oil and gas profits are just two of the routes the government could take
The business secretary, Kwasi Kwarteng, is considering how to reduce the impact of rising energy costs on Britain’s households.
Since October the market price for natural gas has jumped from £2.50 a therm to £4.50 before dropping back to £1.70. In recent days it has begun to tick up again and on Wednesday it hit £2.23 a therm. To give a measure of the shock to the economy from rising energy prices, in January 2021 the price was about 50p a therm.
