Chancellor Jeremy Hunt will unveil his Spring Budget tomorrow which is expected to see plans to increase energy bills delayed. 

The latest Budget comes in the wake of the autumn statement last November which saw the Chancellor hike taxes as he and Rishi Sunak sought to restore UK financial credibility after Liz Truss’ short-lived stay in Number 10.

Mr Hunt said the economy had proved more resilient than many expected, but there is still a long way to go.

He added: "(The Budget) will set out the next stage in our plan to halve inflation, reduce debt and grow the economy - so we can improve living standards for everyone."

Average energy bills to stay as they are

Mr Hunt is expected to delay the planned £500 hike in average energy bills which were due to come into force from April 1. 

This would see bills for the average household staying at around £2,500, instead of going up to £3,000 as was previously announced as part of changes to the Energy Price Guarantee.

The Treasury has come under increasing pressure in recent weeks to cancel the rise, including from financial journalist and broadcaster, Martin Lewis.

Mr Lewis last week revealed on The Martin Lewis Money Show that sources had told him the 20% price rise that was originally planned for next month was in fact set to be delayed.

The Mirror this morning said Mr Hunt is now expected to pause the rise for a further three months until the summer, when wholesale gas costs are expected to fall, bringing down energy prices.

It is understood that suppliers have been asked to prepare for the move.

How to watch the Spring Budget 2023

For those who want to watch the Budget, here's how you can tune in.

The Spring Budget 2023 will be available to watch on BBC Two via Politics Live from 12:30 pm.