The Business and Energy Secretary said billpayers will have to wait until March, the Spring Statement to see what extra support might be available for them to tackle soaring energy bills.

Speaking to ITV’s Good Morning Britain, Kwasi Kwarteng was asked if he would welcome the £500 one-off payment which is reportedly considered as a measure to alleviate the pressure of soaring energy bills felt by most vulnerable households.

He said: “I would welcome any measures that actually deal with this problem, that makes it easier for people, particularly vulnerable people and people of low incomes to get through what is a global issue. It’s a global situation that we are facing in terms of rising prices, inflation, rising energy costs.”

The Business Secretary added that there is a range of measures that had come up and discussed and the government will continue to do that.

He said: “There are lots of measures we talked about. Typically, it’s not common to see Ministers talk about, speculating about measures that the Treasury is responsible for. The Chancellor will come out with his measures at the appropriate time.”

Mr Kwarteng’s views follow a media briefing by Emma Pinchbeck, Chief Executive of Energy UK, who said she was expecting prices to go up not only in April, when the new price cap will come into force but in October as well.