Reeves considers cut to green levies in effort to reduce cost of energy bills

Exclusive: Chancellor hopes to save up to 170 from average bill but industry insiders say move would be disastrous'

• Prospect of breaking 50-year income tax taboo shows scale of Reeves's challenge

Rachel Reeves is considering slashing funding for more energy efficient homes to pay for a reduction in energy bills, sources have told the Guardian, as the chancellor looks for ways to ease the cost of living in this month's budget.

Reeves is finalising a multibillion pound energy support package that is likely to cut taxes and green levies from people's bills as she looks to save as much as 170 from the average bill.