British Prime Minister Liz Truss admitted she made mistakes during a speech to a hostile opposition and members of her own party after facing criticism for her now defunct tax-cutting plan.

RELATED: Biden claims Liz Truss tax cuts are a mistake https://bit.ly/3DbstwJ

As of Sept. 2022, some U.K. civilians are forced to choose between heat and food. Since the previous year, energy caps continually rose, with future prices predicted to reach an increase of 80% by October, according to the U.K. Parliament House of Common Libraries.

As homeowners continue to struggle, businesses are being thrown a lifeline with price cuts to help keep them afloat. While the size of the cut varies depending on the type of contract and respective circumstances, businesses are receiving a price on energy and gas less than half of the anticipated wholesale price this winter, with the government paying for the rest.

This is great for struggling businesses, however, many are worried about the massive cost taken on by the government, estimated at 40 billion pounds (46 billion USD). Newly elected Prime Minister Liz Truss insists this is a necessary price to pay.

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