Boris Johnson is poised to announce billions of pounds in state-backed loans to reduce the impact of soaring energy prices on household bills.
The prime minister and Rishi Sunak, the chancellor, have agreed to a “rebate and clawback” scheme, in which taxpayers will underwrite loans to energy firms.
Companies will pass the money on to every household in Britain in the form of a rebate on energy bills, limiting the impact of price rises in April.
Sheila, 79, cannot afford her gas bills and runs to stay warm
The firms will recoup the money from consumers in subsequent years to pay back the loans as energy prices fall.
Government sources said the plans had been approved by ministers and would be announced in the coming days, possibly tomorrow.
Sources in the industry believe that the government may
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2022-02-02 10:00:00Z
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