£40bn lifeline for businesses

LIZ Truss will this week announce a £40billion package to help businesses cope with soaring energy bills.

Unlike households, businesses have no price cap on their energy bills and many are being hit with huge increases, in some cases eight times higher.

Firms across the high street, as well as schools, care homes, hospitals and other vital services, are sounding the alarm. Allies confirmed that the PM was considering two options to help struggling firms – a cap on energy costs, akin to the plans to protect households, or a unit price reduction that all energy suppliers must offer companies.

The Government would reimburse energy suppliers for their losses and small businesses could get extra support.