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5 Things You Need To Know, Today, on Monday 3th October 2022
5. Energy prices rose for millions of households on Saturday, but the increase has been cushioned by a government cap on the cost per unit.
It stepped in after an 80% increase in domestic gas and electricity bills was earmarked for the first half of winter.
4. Fuel costs are hitting businesses in the East of England, managers have said.
Colin Strachey, of Premier Sailing in Burnham-on-Crouch and Maldon in Essex, said the government energy announcement was unlikely to have any impact on his business.
3. A company that has received billions of pounds in green energy subsidies from UK taxpayers is cutting down environmentally-important forests, a BBC Panorama investigation has found.
Drax #DRX runs Britain's biggest power station, which burns millions of tonnes of imported wood pellets - which is classed as renewable energy.
2. Liz Truss tried to reassure her party and the public on Sunday by saying she should have done more to "lay the ground" for an economic plan that saw the pound fall to record lows and government borrowing costs soar.
On the first day of her governing Conservative Party's annual conference, Truss, in office for less than a month but already under intense pressure, sought a softer tone by saying she would support the public during a difficult winter and beyond.
1. Chancellor Kwasi Kwarteng is expected to make a statement reversing the proposed scrapping of the 45p rate of income tax in the next hour, 10 days after he announced it in the government's mini-budget.
The U-turn comes after several Conservative MPs voiced their opposition to the removal of the top tax rate.