British government says it spent nearly £40-billion on power subsidies

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British government says it spent nearly £40-billion on power subsidies
France Dernières Nouvelles,France Actualités
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The cost of the subsidies has helped to swell Britain’s public borrowing since they were launched last October

The Office for National Statistics has put the cost at £41.2-billion in the financial year ending in March.

The EPG subsidies for households are due to end in July as regulated prices fall below the level of the cap. Support for businesses is scheduled to run until March 2024. The energy ministry said the some of the funding for the energy subsidies would come from a so-called windfall tax on energy producers which was expected to raise almost £26-billion by March 2028.

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