The government is expected to unveil a ‘mini-Budget’ a week today when new prime minister Liz Truss will reveal details of plans to confront the cost-of-living crunch.

The mini-Budget will be outlined on September 23, according to Sky News. After winning the Conservative leadership election, Truss revealed plans to limit energy price rises but the details have not yet been revealed because parliament was suspended for official mourning following the Queen’s death

It will represent the first big policy event from the Truss administration. Businesses hope that as well as outlining the detail of plans to help consumers, chancellor Kwasi Kwarteng will reveal how he intends to help companies, which are bearing higher costs of doing business and whose energy prices were not capped in the same way as household prices.

Earlier this week, as she revealed the company’s interim results, John Lewis Partnership chair Dame Sharon White said that the help promised for households could be a “game-changer” and make consumers more willing to spend than they are at present, as their disposable income is eroded.