NEXT week Liz Truss will make a number of major announcements aimed at keeping more hard earned money in working people’s pockets.
As the cost of living crisis continues to bite, the PM will try to soften the blow through slashing taxes and stopping energy giants charging eye watering bills.
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With inflation sitting at a staggering 9.9 per cent, Ms Truss needs to act quickly.
No major government policy announcements are being made during the mourning period for Queen Elizabeth.
Also, Parliament is due to break for three week at the end of the month for party conferences to take place.
So, the PM only has a few days next week to push through massive fiscal changes.
On Friday a mini budget will be announced in the Commons.
Here’s what you can expect to hear during it and across the week.
Health and Social Care Levy
The PM is expected to slash the Health and Social Care Levy that was brought in under the Boris Johnson administration in April.
During the Tory leadership campaign Ms Truss said she hated the national insurance hike and vowed to get rid of it.
For some people it paying the government hundreds of pounds extra a year.
On Friday it’s set to be scrapped.
Corporation Tax
A planned rise in corporation tax for April next year is likely to be binned on Friday.
The idea is that by keeping taxes lower, major companies will have more money to invest in the British economy, ultimately helping it to grow.
Energy bailout
At some point next week the PM will provide more details about the £150 billion energy bill bailout, with businesses waiting on tenterhooks for more information about how to access the desperately-needed support.
Last week, the government announced multi-billion pound package to save typical Brits £1,000 by protecting them from crippling global gas costs.
Bills were set to rise to £3,500 in October and more than £6,000 next April in a terrifying prospect for most households.
However in a mammoth intervention – which could cost more than furlough – Ms Truss is now going to cap costs from October 1, with the typical family paying no more than £2,500.
Under the plan to cap wholesale costs ministers estimate a family in a detached house will spend no more than £3,300, a semi-detached £2,650, a bungalow £2,450 and a flat £1,750.
Businesses will benefit from the scheme for just six months, but vulnerable firms could get more support.
More details on how businesses can access the help should be confirmed next week.
