UK’s new PM Truss planning $46 billion energy package for businesses – report

UK’s incoming British Prime Minster Liz Truss is planning a 40 billion pound sterling ($46.22 billion) support package for businesses to help them cope with increasing energy costs, Bloomberg News reported on Tuesday, citing documents.

The plan would include discounting firms’ energy bills by fixing the wholesale price of gas and electricity, with the government making up the difference, Bloomberg added.

Truss, who is due to hold office later on Tuesday, has pledged to act immediately to help households cope with growing gas and electricity prices. She has not yet publicly set out details of her plans either for consumers or businesses.

Bloomberg said Truss was studying either setting a guaranteed unit price for businesses, or a cut that all energy suppliers must offer firms.