Prime Minister Liz Truss' “bold” plan to guard against spiralling bills will be announced on Thursday (September 8). The speech promises to be the new PM's first test since coming into office.
Ms Truss is expected to reveal to the House of Commons her plan to guard households and businesses against crippling costs while ramping up domestic energy supply. At the centre of her remedy is the plan for domestic bills to be frozen at around £2,500 as part of a package to ease the cost-of-living crunch, reports PA.
It's being suggested that the programme will be funded through borrowing, with Ms Truss rejecting the idea of applying a windfall tax on the bumper profits made by oil and gas companies to cover the cost – reported to be up to £150billion. Labour has accused the PM of writing a “blank cheque” to the energy giants by ruling out the levy, with the British people left to “foot the bill”.
