Just days after taking office, the new Prime Minister Liz Truss stood up in the House of Commons in a debate on energy costs and laid out her government’s plans to tackle the crisis over rising energy costs. While not a full scale statement, Ms Truss set out an Energy Price Guarantee for the next two years for consumers and support for businesses over the next six months.
Please click here for our summary of the key measures.
The Prime Minister also said that further details of how the new measures would be funded will be set out in a ‘fiscal statement’ by the new Chancellor Kwasi Kwarteng ‘later this month’. The Chancellor’s statement could include further news around VAT and other measures for business.
We will provide detailed information on the fiscal statement once it is released.