Liz Truss is expected to announce a freeze to energy bills this week as pressure mounts on the soon-to-be Prime Minister to deal with the growing cost of living crisis, say reports.
The new Tory leader will officially take the top job today when she flies to Balmoral, where she will be formally invited by the Queen to form a government.
Ms Truss' key allies are now set to take up a number of key cabinet positions, with Business Secretary Kwasi Kwarteng widely expected to be handed the title of chancellor.
It follows her fifteen-point victory over rival Rishi Sunak on Monday, which came at the end of a mammoth two-month leadership contest triggered by the resignation of Boris Johnson in July.
The outgoing Prime Minister had since refused to take any action on the economy until the new leader was in place, stressing last month that "there is more money coming".
The new Chancellor will now be tasked with finally delivering on this promise, with The Daily Telegraph reporting that her government will seek to freeze bills until the next general election in 2024.
The move, estimated to cost tens of billions of pounds, could be announced as early as Thursday along with a potential range of flagship economic policies amid faltering Tory poll ratings.
Last week, a Daily Mirror poll revealed more than eight out of 10 people backed immediate action to prevent families on the brink plunging further into crisis.
Some 82% of those quizzed, including Conservative voters, wanted the Government to keep the energy price cap at its current £1,971 average a year rather than allow October’s planned rise to £3,549.
The survey suggested 12 million households will battle to meet that cost – with more than one in 10 people “weeks” away from not being able to afford other household bills.
Other key appointments to cabinet expected this week include Attorney General Suella Braverman, who is expected to be promoted to home secretary, and Education Secretary James Cleverly, tipped to become foreign secretary.
In comments after his defeat yesterday, Mr Sunak suggested he was not expecting a ministerial post but would give Liz Truss his “full support” from the backbenches.
Home Secretary Priti Patel announced the same day that she had resigned after three years in the job, while Culture Secretary and Johnson ally Nadine Dorries is also stepping down as she awaits a likely peerage in Johnson's resignation honours.
Nigel Adams, another staunch defender of Boris Johnson's has also vacated the post of Cabinet Office Minister.
Ms Truss's landmark address to the nation this afternoon may take place inside No 10 rather than outside the doors, as is custom, with heavy rain and thunderstorms expected in the capital on the day she takes office.
