UK budget for energy support to businesses to fall by 85% - Telegraph

LONDON (Reuters) - The British government's budget for protecting businesses against surging energy bills is due to fall by 85% to around 5 billion pounds after March, The Daily Telegraph reported on Friday.

The Telegraph, citing multiple government sources, reported that the budget was for a 12 month period after March, including next winter.

Finance minister Jeremy Hunt called the current six-month programme "unsustainably expensive" on Wednesday, with his department saying the government will set out a plan next week on how it intends to scale back the subsidies for businesses.

The original programme was predicted to cost 18.4 billion pounds ($21.84 billion) when the government's budget watchdog published forecasts in November.

The finance ministry did not immediately respond to a request for comment on the Telegraph report.

($1 = 0.8424 pounds)

(Reporting by Muvija M; editing by William James)