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Reeves Rules Out Bailouts for Wealthy Households Facing Higher Energy Bills

Financial Times Companies •
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UK Chancellor Rachel Reeves has ruled out bailing out wealthy households facing higher energy costs this winter, insisting the government must learn from past mistakes. £1,350 of direct energy support given to top income households between 2022 and 2024 under the previous administration burdened the nation with debt, she stated. Reeves emphasized her commitment to ironclad fiscal rules to keep inflation and interest rates low, rejecting universal support schemes like those introduced after Russia's invasion of Ukraine. Contingency planning is underway to target aid effectively to those most in need while managing costs.