Britain’s new leader Liz Truss capped soaring consumer power bills for two years on Thursday in a package to limit the economic shock of war in Ukraine that could cost about 150 billion pounds ($172 billion). With Britain facing a lengthy recession sparked by a near quadrupling of household energy bills, Truss – appointed prime minister on Tuesday – set out what she described as bold immediate action to protect consumers and businesses. She told parliament that average household bills would be held at around 2,500 pounds a year for two years, preventing the expected 80% leap that was due in October, threatening the finances of millions of households and businesses. With wholesale gas prices remaining highly volatile, Truss did not put a price on the package but Deutsche Bank have estimated that the energy price offset plus Truss’s promised tax cuts could cost […]