Truss to freeze household energy bills with subsidy: source and reports

[RandySF]

LONDON, Sept 6 (Reuters) - Britain's new prime minister Liz Truss is planning to freeze household energy bills at broadly the current level this winter using government-backed loans to energy suppliers, according to a government source and reports.

The scheme could cost around 100 billion pounds ($116 billion), according to a person familiar with the situation, but the precise amount would depend on its duration, wholesale prices and market demand.

How the money would be repaid had not been settled, the source said, with a previously favoured option of a levy on consumer bills lasting up to 20 years losing ground to recovering the funds through general taxation.

The political editor of The Sun, citing multiple government sources, said the money would come from borrowing and tax.

A new windfall tax on energy companies was not being considered, the source said.




https://www.reuters.com/world/uk/uks-truss-freeze-household-energy-bills-18-months-bbc-says-2022-09-06/?taid=631755eaa627690001c59216&utm_campaign=trueAnthem:+Trending+Content&utm_medium=trueAnthem&utm_source=twitter

[bucolic_frolic]

1. Cut taxes with one hand, raise them with another, reward the rich, prop up the poor

Pardon my French, but this seems political?

[Claustrum]

2. In US, republicans would be crying "socialism".

This is why I think republicans in US is really bad. Tory (republicans) in UK is at least reasonable when it comes to taxes or government intervention when needed.