Martin Lewis has explained what Rachel Reeves' new £150 slash in energy bills means for Brits - and warned that failing to pass the reduction on to all customers, including those on fixed tariffs, would be “unthinkable.”

The Chancellor plans to scrap the ECO energy scheme as part of her Autumn Budget , which she says will help households reduce how much they pay in energy bills. The scheme, introduced by the previous Conservative government, has "failed", according to Ms Reeves. "It costs households £1.7 billion a year on their bills, and for 97% of families in fuel poverty, the scheme has cost them more than it has saved," she said.

Ms Reeves said that the change will mean an average saving of £150 for UK households. "Money off bills, and in the pockets of working people," she said

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