UK PM Truss plans £40 billion energy-aid package for businesses

UK incoming Prime Minister (PM) Liz Truss’s spokesman said that she plans a £40 billion energy-aid package for businesses.

Citing sources, Bloomberg reported that Truss will discount firms' energy bills by fixing the wholesale price of gas and electricity.

Meanwhile, Reuters carried a story citing that household bills are due to jump by 80% in October but a source familiar with the situation said that Truss is looking at freezing bills this winter, in a plan that could cost more than the COVID-19 furlough scheme.

Market reaction

Amidst speculation over Truss’s energy relief plans, GBP/USD is keeping its range play intact around 1.1550, currently adding 0.40% on the day.

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