Britain’s finance ministry said on Wednesday that the government would announce to parliament next week how it proposes to cut current support, which government forecasters estimate will cost 18 billion pounds in the six months to March.
Finance minister Jeremy Hunt has called the current programme “unsustainably expensive”.
The Telegraph reported that under the new plan “the 5 billion pound cost is largely agreed, according to multiple government sources tapped into negotiations”.
Britain’s finance ministry declined to comment on Friday about whether the 5 billion pound cost estimate was accurate.
“We need to ensure longer-term affordability and value for money for the taxpayer,” a finance ministry spokesperson said.
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