Liz Truss – live: Prime Minister's energy plan 'to put the UK in debt for decades'

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Liz Truss cabinet reshuffle: Who's in and who's out?

Liz Truss's plan to ease the cost of living crisis without taxing energy companies could put Britons in debt for decades, officials have warned opposition parties as the pound slipped to 37-year-low against the dollar.

Financial markets were shaken by the new Prime Minister's decision to borrow to pay the £100 billion needed to cap energy y costs, instead of taking a share of the windfall profits recorded by oil and gas giants.

The PM's energy plan, which it will unveil in a statement to the Commons on Thursday, will freeze average bills at a level of around £2,500 by setting a cap on the price of a unit of energy, while which exceeds being paid for by the government.

Sir Keir Starmer has warned that Ms Truss will make taxpayers 'foot the bill' for her Ian Blackford, of the SNP, has announced plans to freeze public bills energy, dubbed a decades-old "tax on trusts".

Despite fears, she was abandoning party unity in favor of a "buddies' cabinet" by entering No. 10, a new minister told The Times: "I doubt it will last two years."

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