Truss unveils £150bn plan to cap soaring energy bills

By Tom Lowe2022-09-08T12:05:00

New PM to cut more than £1,000 from household bills over the next two years - though help for businesses will last just six months

Liz Truss has unveiled plans to borrow vast sums of money in order to cap annual household energy bills at £2,500 for the next two years, declaring “this is the time to be bold”.

The new prime minister’s plans are expected to cost up to £150bn, more than double the cost of the £70bn furlough scheme, and will save households more than £1,000 a year on their energy bill.

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