Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps his Department will take to fund the proposed energy price freeze in the event that economic growth does not reach expected levels.

As stated in response to a similar previous question, the Energy Price Guarantee will be funded by the government to support households and businesses with the cost-of-living challenge in the short term. To address the longer-term problem of rising energy costs, the government will be making significant interventions in the energy market over the coming months.

The government is committed to fiscal discipline and the Chancellor will set out the government’s Medium-Term Fiscal Plan on the 31st of October 2022. This will be delivered alongside an economic and fiscal forecast by the independent Office for Budget Responsibility, which will take account of the policies in the Medium-Term Fiscal Plan.