The price of a typical British household’s energy bill will be capped at £2,500 a year for the next two years, UK Prime Minister Liz Truss announced on Thursday as part of a package to tackle the cost of living squeeze.
It’s unclear how much the package will cost, but it was estimated to run between £100 billion and £150 billion, which will be paid for out of Treasury funds and by borrowing.
In her first major policy intervention as the prime minister, Truss also set forth a raft of measures that she said will tackle “the root cause of high prices,” including lifting the UK’s fracking ban and other existing plans drawn up by her predecessor Boris Johnson’s government….