fuelling the fire. maybe there is hypocrisy on both sides? what do you think about it? leave harry and meghan alone? water companies in england have apologised over spilling sewage into rivers and seas. they say they ll invest £10 billion into new infasturature but that will result in higher customer bills. bt is cutting up to 55,000 jobs by the end of the decade that s around forty per cent of its workforce. it says it ll need fewer staff once its modern broad band and mobile networks are complete. royal mail says postal strikes were partly to blame for big losses in the year
the johnson government on oil and gas companies. that was brought in may. she does not want to extend that despite pressure from the opposition party to do that. so what s left is more government borrowing. and the risk of that that could push up borrowing costs which are already going up, help fuel inflation and could dampen investor confidence overall in the u.k. which relies heavily on foreign investors buying its government debt. so that is the risk there. however, the plan is being muted which is to cap the price of customer bills that could d d e a key purpose to bring down inflation. this is something we ve heard from economists and even the bank of england said on wednesday that is something it would look at in its forecast. the details are going to be crucial here, rosemary. yes, everyone will be listening and watching. many thanks. still to come pakistan s largest lake overflows
the energy markets on thursday. it will help both consumers keep their bills pretty much where they are, and lower cost for businesses. now, the options are as follows. number one, freeze the bills for households at their current level, remember, they arejust under at their current level, remember, they are just under £2000, right now, they are due to go up to over £3500 for a typical household in october. so, freeze them. obviously, businesses don t have an energy price cap, so the mechanism will be slightly different and we are unclear on that, but it might mean limiting the amount of unit cost of a!. the second one is, how do you pay for all of this, it is going to be eye wateringly expensive? one option is to have the energy companies borrow the difference between the frozen price and the real price in the market and pay it back over 20 years by adding money to customer bills. that means higher bills for longer, that is also not
out loans to bridge the gap between what the cap is at and what he real price of the market is and what the government will guarantee those loans. those loans will be repaid by adding money to bills over the next 10-20 adding money to bills over the next 10 20 years. this is a massive long term intervention with no guarantee that prices will come down in the next 18 months or indeed how long money will be added to customer bills, possibly for up to 20 years. a major intervention but some of the details are still coming together. just as i talk to you, we are seeing pictures of the convoy carrying liz truss leaving aberdeen airport now on her way to balmoral, where was she will have that audience with the queen where she will be invited to form the next government, at which point she officially becomes the uk s prime minister. going back to what you are telling us, simon, is it going to stop calls, i doubt it based on conversations i have had this morning with the ippr north group which