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UK Prime Minister Announces New Energy Price Guarantee Without Tax Increases

09 September 2022

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Proposed Changes

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United Kingdom

UK Prime Minister Liz Truss delivered a speech in Parliament on 8 September 2022 announcing the Government is moving immediately to introduce a new Energy Price Guarantee to limit energy bills for households with effect from 1 October 2022, with equivalent guarantees to support all businesses, charities, and public sector organizations for a period of 6 months. After 6 months, further support is to be provided to vulnerable sectors. According to Prime Minister Truss, this support will not be funded through a windfall tax. Instead, the Government will be taking an approach that is pro-growth, pro-business, and pro-investment, which will...