Liz Truss set to announce £130bn energy bill bailout

Ahead of Commons statement, new prime minister promises immediate action to help people and businesses with bills'

Liz Truss will finally present her long-awaited plans to tackle soaring energy bills on Thursday, with some Tory MPs conceding this is already a make or break moment for her entire premiership.

The new prime minister is expected to announce to MPs that bills will be frozen at about 2,500 a year until 2024 as part of a package of support costing up to 130bn, funded by the taxpayer, as she tries to address the most significant economic crisis in a generation.