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Truss will freeze gas and electricity bills for two years


September, 08 2022
watermark Economic news

The new British Prime Minister Liz Truss has revealed the details of her energy plan: from October 1 and for two years, energy prices will be frozen. Now the average annual gas and electricity bill will not exceed 2,500 pounds. 


The envisaged measures will cost the UK budget about 150 billion pounds ($172 billion). At the same time, Trass has not yet announced exactly how this assistance program will be funded. 


Given that the new Prime Minister is actively in favor of reducing taxes on the population and has repeatedly spoken out against the introduction of a tax on excess profits of companies, it can be assumed that covering the difference between real energy prices and the amount that will be charged to citizens will be at the expense of government loans. In the future, they will be paid over the next 10-20 years by adding to consumers' energy bills.


According to Truss, the new measures will save each household a thousand pounds. The country already has support measures in the form of a discount on energy bills in the amount of 400 pounds this winter, which was announced under the previous British Prime Minister Boris Johnson.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.