Liz Truss will be setting up her plan on Thursday to support households and businesses with skyrocketing energy costs.
Downing Street said the action would be daring and robust and support people across the UK who are facing soaring bills whilst also increasing the domestic energy supply.
The newly appointed Prime Minister of Britain, Liz Truss, is to disclose her recommendations to parliament, unlocking a general discussion in the Commons on energy costs.
Ahead of the statement, the newly elected leader of the conservative party and PM, Truss, said, “I know households and industries across the country are worried about how they will make ends meet this autumn and winter.
In addition, Truss said, “Putin’s war in Ukraine and weaponisation of gas supply in Europe is causing international prices to rise, and this has only made more evident that we must boost our long-term energy security and supply.
Truss said that the authorities would take action to offer immediate help to households and businesses. She added that we would take decisive action to tackle the situation so that the country will not be in the same position again.
Truss stated, “We will plan to deliver on that promise and build a successful Britain for everyone.”
After months of objection over a lack of additional help to manage the effects of energy-led inflation, which is at a 40-year high, Ms Truss’s plan to tackle the cost of living will be the first major policy initiative of her premiership.
Early signs indicate a price freeze is on the way, and the Treasury will protect families completely from concealing the scheme’s cost, which leads to the fee not being passed down through future bills.
She is expected to freeze household bills at about £2,500 but has rejected the concept of utilising a windfall tax on oil and gas giants’ gains to fund the package – reported to cost up to £150bn.
Bills would fall back to the existing level of around £2,000 once the £400 grant for every household and other bill adjustments are factored in.
