PM Liz Truss vows energy crisis action amid cost of living crisis

The soon-to-be-appointed prime minister Liz Truss has promised to deal with surging energy costs and to cut taxes, as she officially takes office today. 

Her plan is set to be announced on Thursday and will likely include a freeze on energy bills. 

Truss will be appointed by the Queen later today in Scotland, following a final speech by Boris Johnson. 

She will then appoint her cabinet. 

Following the announcement of her victory yesterday, she delivered a speech promising a “bold” programme of tax cuts to grow the flagging economy and prevent the UK from tipping into recession. 

Her most pressing decision will be how to protect households and businesses from the soaring international price of energy. 

It is understood that under her plans, energy firms would be able to take out government-backed loans, which they would use to freeze or lower customers’ bills. The loans would be repaid from bills over the next 10-20 years.