Liz Truss has announced that energy bills will be capped for two years at £2,500 for the typical UK household in her first major policy announcement as prime minister.
In an attempt to address the cost of living crisis, the new Tory leader is expected to borrow around £150 billion - after ruling out a windfall tax on the excess profits of oil and gas giants.
The intervention comes after weeks of pressure from opposition parties and The Mirror. The energy price cap was due to rocket to £3,549 from October 1 and even higher in 2023.
