British Prime Minister announces two-year freeze on rising energy bills

New British Prime Minister Liz Terrace announced today a two-year freeze on energy prices at a cap of 2,500 pounds (more than 2,800 euros) a year for the average family, in the face of the rising cost of living.

Speaking before Parliament, Terrace said energy prices will be frozen for six months for companies, explaining that the measure is equivalent to saving the economy about 1,000 pounds annually compared to the price increases expected on October 1.

The Trust did not specify the cost of the support measures, which are expected to reach tens of billions of pounds, to be secured through the loans.

The measures also include a temporary freeze on the energy taxes that fund the transition to carbon neutrality.

Many media outlets have stated that the measures will cost 150 billion pounds, and this is more than double the amount of 70 billion pounds spent to pay the wages of the unemployed throughout the pandemic period.

"This is a time that requires us to be bold. We are facing an energy crisis...and these interventions will come at a price," Truss told lawmakers.

Follow our latest local and sports news and the latest political and economic developments via Google news