Truss set to freeze energy prices until next election as she outlines vision as PM

6 September 2022, 01:30 | Updated: 6 September 2022, 02:37

Liz Truss will be the next PM
Liz Truss will be the next PM. Picture: Alamy/Getty

By Emma Soteriou

Liz Truss is set to freeze energy prices for two more years - until the next general election - in one of her first major moves as Prime Minister.

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Energy bills will be frozen until 2024 under the plans being considered by Ms Truss, it is understood.

The support package for households is due to be revealed as early as Thursday, followed within weeks by an announcement of tax cuts and a plan to clear the NHS backlog, according to the Telegraph.

The "huge" policy intervention would last longer and cost tens of billions of pounds more than Labour's proposal to cap prices until early 2023.

Ms Truss is also expected to announce an expansion of North Sea gas extraction.

The Foreign Secretary will become PM on Tuesday, replacing Boris Johnson, after beating Rishi Sunak in the leadership race.

She will be appointed by the Queen at Balmoral before giving a speech outside No10 to outline her plans for the country.

Read more: Liz Truss pledges a 'bold plan' to cut taxes and tackle Britain's energy crisis in first speech after being crowned PM

Read more: Nadine Dorries quits hours after Priti Patel as she rules out role under Truss

Liz Truss has got a 'vengeful Cabinet', says Spectator editor

In her first speech after being announced the winner of the leadership contest, Ms Truss said she had a "bold plan" in store to cut taxes and tackle the energy crisis.

"During this leadership campaign, I campaigned as a conservative and I will govern as a Conservative," she said.

"And my friends, we need to show that we will deliver over the next two years. I will deliver a bold plan to cut taxes and grow our economy.

"I will deliver on the energy crisis, dealing with people's energy bills, but also dealing with the long term issues we have on energy supply. And I will deliver on the National Health Service.

"But we all will deliver for all for our country, and I will make sure that we use all the fantastic talents of the Conservative Party: our brilliant Members of Parliament and peers, our fantastic councillors.

"Our MS, our MSPs, all of our councillors and activists and members right across our country."

Ms Truss took the win with 81,326 votes to Mr Sunak's 60,399.

A voting turnout of 82.6 per cent, Truss received 57.4 per cent of the vote from Tory party members.

"Do you think Liz Truss's proposed tax cuts are immoral?"

Among Ms Truss' top priorities when she gets into office will be appointing her new Cabinet.

Business Secretary Kwasi Kwarteng is tipped to be the next Chancellor while James Cleverly is believed to be stepping into her shoes as Foreign Secretary.

Other supporters who backed Ms Truss' campaign could also be getting a promotion in coming days, with Jacob Rees-Mogg believed to be in the running for Business Secretary and Suella Braverman set to be Home Secretary.

It was revealed on Monday evening that both Priti Patel and Nadine Dorries would be stepping down from their roles ahead of the reshuffle.