Liz Truss is mulling a £100billion package to freeze energy bills as she braces to be named the UK’s next PM.
With the results of the Tory leadership contest due at lunchtime, Ms Truss has vowed ‘immediate’ action to ease the pressure on struggling families.
Speculation is mounting that she will opt for a bold furlough-style move – possibly by loaning companies money to hold down costs.
The plan emerged as wholesale gas prices soared again this morning, by around 30 per cent, following Russia’s decision to shut down a key gas pipeline.
Chancellor-in-waiting Kwasi Kwarteng has already been scrambling to reassure markets that although government borrowing will be ‘looser’ it will remain ‘responsible’. Ms Truss has also promised a wave of tax cuts aimed at boosting economic growth.
Ms Truss told the BBC yesterday that she will reveal fresh supports for struggling households within a week, but refused to spell out details.
‘Before you have been elected …