In desperate times governments have no choice but to be audacious in their actions. Britain’s newly minted Prime Minister, Liz Truss, is certainly showing herself to be alive to the challenge.
There is nothing Truss can do immediately to end Russia’s barbaric war in Ukraine.
Nor can she prevent President Vladimir Putin from doubling down on his decision to deny much of Europe gas through the vital Nord Stream 1 pipeline this autumn until Western sanctions on his nation are lifted. Gas prices soared 30 per cent this week after the Kremlin announced the pipeline would not reopen following three days’ maintenance.
But in a momentous policy initiative to be unveiled tomorrow, Truss will junk the ruinous surge in the energy price caps in the months ahead by fixing tariffs at current levels for hard-pressed households and help businesses still struggling to recover from the impact of the pandemic.
The relief for consumers will be enormous. Instead of average energy …