RISHI DISHES OUT £15bn CUT TO BILLS

WINDFALL TAX TO FUND £400 HANDOUT FOR FAMILIES HIT BY SOARING ENERGY COSTS | Rishi: extra help with bills for the most vulnerable

- David Bond

RISHI SUNAK today unveiled a £15 billion emergency aid package to help millions of the most vulnerable households tackle the cost of living crisis.

The Chancellor's latest round of government support - to be partly paid for by a windfall tax on oil and gas giants will hand all households a £400 grant to help pay their soaring energy bills. The payment replaces an earlier plan for a one-off £200 rebate on people's energy bills in October, which was supposed to be clawed back over five years.

In addition, Mr Sunak, right, announced extra support for the poorest families, with those on means tested benefits set for further help with their bills.

Following a Cabinet call to sign off the Treasury's plan this morning, Mr Sunak told MPs: "This Government will never stop trying to help people and fix problems where we can."

The latest package of support comes after energy regulator Ofgem warned earlier this week that the energy price cap is set to rise by about £800 from £1,971 a year to £2,800 in October. After a £693 rise in April, energy bills are set to rise by an eye-watering 119 per cent in a year.