Jeremy Hunt has some bad news for businesses over energy bills – so what now?

Bitter medicine could be sweetened by the launch of a review into a failing market, argues James Moore

Chancellor says current scheme is ‘unsustainably expensive’ (PA)

Britain’s business community is facing quite the new year hangover.

While Rishi Sunak was attempting to get on the front foot with a big new year speech, his chancellor – Jeremy Hunt – was setting business groups back on their heels with some very bad news.

The £18bn business Energy Bill Relief Scheme, which is coming to an end in March, is to be replaced with something much less generous.