Liz Truss Will Announce "Twin Track" Energy Bills Plan In The Next Week
Incoming Prime Minister Liz Truss is planning to announce a "twin track" approach to tackling the cost of living crisis, starting with help for households, within the next week.
Truss was announced as the winner of the race to succeed Boris Johnson as Conservative party leader and Prime Minister on Monday, as was widely expected, with the Foreign Secretary defeating the ex-chancellor Rishi Sunak by 57.4 per cent to 42.6 per cent.
Truss, who will travel to Balmoral in Scotland on Tuesday to be sworn in by the Queen, is under huge pressure to take immediate action on the cost of living crisis as soon as she arrives in 10 Downing Street, with households preparing for the energy cap rising to £3,549 next month.
She's also under pressure to provide support to businesses, whose energy bills are not capped.
PoliticsHome understands that Truss plans to announce a package of support for households within seven days, but there is a chance plans will not be confirmed until early next week. The incoming Prime Minister will later announce plans for boosting domestic supplies of energy, as part of a two-pronged approach to addressing the growing crisis.
On Sunday, Truss told the BBC that she will make an announcement on the energy crisis within a week of becoming Prime Minister.
Kwasi Kwarteng, a key Truss ally, is expected to be made Chancellor when she confirms her first Cabinet appointments on Tuesday evening. Jacob Rees-Mogg has been tipped to be appointed the Secretary of State for Department for Business, Energy and Industrial Strategy.
A source close to Kwarteng told PoliticsHome that work had been going on behind the scenes for weeks in preparation for the new government's cost of living announcement.
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