A massive energy bailout that could cost the UK $172 billion is being prepared.
Image Credit : KRDO
In order to protect people and businesses from rising energy costs.
Image Credit : KVIA
The new prime minister of the United Kingdom is reportedly planning to commit up to £150 billion ($172 billion).
Image Credit : KESQ
Which will result in more government borrowing at a time when investors are already uneasy about the country's finances.
Image Credit : KESQ
Liz Truss, who took over for Boris Johnson earlier this week, informed legislators on Wednesday.
Image Credit : KESQ
She will reveal her strategies for addressing the sky-high cost of energy on Thursday.
Image Credit : KRDO
The Financial Times reported that the Chancellor, Truss, is developing plans to freeze the average annual household energy.
Image Credit : KVIA
The average annual household energy bill at around £2,500 for the next two years.
Image Credit : KESQ
In spite of bills increasing by 27% from their current level.
Image Credit : KESQ
This will keep them from reaching the £3,549 ($3,954) level they would have in October without government intervention.
Image Credit : KESQ
The cost of this will be high.
Image Credit : KRDO
The plan is expected to provide £90 billion in support for households and £60 billion in support for businesses.
Image Credit : KRDO