The emergency Budget setting out much-awaited details of support for for households and business amid the cost-of-living crisis will be made on Friday.
The 'fiscal event' which is effectively an emergency mini Budget, was promised by Prime Minister Liz Truss as part of her plans to grow the economy and tackle soaring inflation.
The PA news agency understands that will be made by Kwasi Kwarteng on September 23.
A separate announcement on an energy package is also expected next week, possibly on Wednesday or Thursday.
READ NEXT: The emergency Budget announcements Kwasi Kwarteng is expected to make
Parliament is currently suspended while the country is in mourning following the death of the Queen.
The Prime Minister expected to fly to New York for the United Nations General Assembly following the monarch’s funeral on Monday.
The Commons will also enter recess at the end of next week to allow for party conferences to take place.
Ms Truss last week announced long-awaited Government plans to tackle sky-high energy bills and ease the cost-of-living crisis, with a focus on capping prices and boosting domestic energy supplies.
Under the “energy price guarantee”, bills for the average household will go no higher than £2,500 at any point over the next two years.
But how the scheme will work for businesses, which do not fall under the energy price cap, has yet to be disclosed
Mr Kwarteng is also expected to set out further details of how the package will be funded, as part of the “fiscal event”.
Business leaders have expressed concern in recent days about the lack of clarity over the equivalent support for companies, which are also struggling with rising bills.
On Wednesday, Downing Street promised that more details about the supports will come next week alongside a pledge to backdate energy costs for businesses if there is a delay to getting the complex new scheme off the ground.
What to read next:
