Ahead of the announcement of new government measures to combat high energy bills, Cabinet Office minister Steve Barclay said that the country should pay for increased household support, but at the same time not allow a negative impact on investment.
"In terms of paying for that, as we look at the balance between how much is done through debt, and how much is done through revenue raising, we need to do that in a way that doesn't deter investment," the minister said.
Today, the UK Finance Minister is due to present a more detailed plan of how the government will respond to the increasingly high cost of living due to rising electricity prices.
According to forecasts, the government will announce support measures for 10 billion pounds. One of the sources of financing for this plan will be a windfall tax on oil and gas producers.
Steve Barclay noted that the government decided to take action after reports that in October a cap on gas and electricity bills was set to rise by another 40%.