Liz Truss considers ‘nuclear’ option of 5% VAT cut

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In France, ministers promised on Saturday to maintain limits on power prices that prevent energy companies from rising by no more than four percent next year in a bid to protect households from rising tariffs.

Mrs. Truss’s campaign has begun drawing up plans for her “emergency budget,” but a source close to her said on Saturday night it “wouldn’t be good for her to announce her plans before even being elected Prime Minister or saw all the news.” facts”.

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She is said to have changed her mind after initially declaring there would be “no handouts” under her leadership, and plans to appoint an economic adviser at No. 10 to help manage the cost of living crisis. to grab.

“Three weeks ago they said we need to have everything much more focused, and it needs to be more accurate — it can’t be an entire economy,” said a source knowledgeable about her team’s discussions.

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“But they just don’t have time for that. People will go bankrupt from the moment she takes office.”

Robert Jenrick, the former housing secretary, wrote for The Telegraph that he was the “first cabinet minister to address the inflation threat in 2020” and called on the new prime minister to “recognize the relationship between energy, power and geopolitics.” “. as great Western leaders once did.”

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Despite supporting Mr Sunak in the Tory leadership race, Mr Jenrick has been tipped as a potential minister in Mrs Truss’ government if she wins.

A spokesman for the Treasury Department said the government is making “necessary preparations to ensure a new government has options to provide additional aid as soon as possible”, adding: “No major fiscal decisions will be made until the new prime minister is in office.

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