Next Prime Minister LIVE: Truss poised for IMMEDIATE U-turn on her energy bills plan

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The Foreign Secretary is widely expected to beat Rishi Sunak in the contest to replace Boris Johnson, with the result set to be announced at midday before the winner takes the keys to Number 10 tomorrow. Reports suggest Ms Truss, who has put tax cuts at the centre of her leadership campaign, is poised to introduce an energy bills freeze in some form.

Campaign sources involved in discussions and energy company insiders who have been consulted told The Telegraph a freeze is now expected.

A source from Ms Truss’s team said: “I’m confident there will be a mechanism introduced that freezes bills.”

Meanwhile, The Times reports that the package could be on the scale of the furlough scheme during the Covid pandemic.

Speaking to the BBC yesterday, Ms Truss said: “I will act if I’m elected as prime minister. I will act immediately on bills and on energy supply because I think those two things go hand in hand.”

It comes after the Tory leadership frontrunner previously insisted she would help people with the cost of living crisis by slashing taxes rather than giving “handouts”.

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