Racing industry waits as Truss promises bold measures to combat energy crisis

Liz Truss has promised to take immediate action on spiralling energy bills after delivering her first speech on Tuesday as the UK's new prime minister.

Racecourses, bookmakers and trainers have warned of the difficulties facing their businesses with the unit prices paid for gas and electricity set to rocket on October 1, and households are also preparing for the 80 per cent hike in the energy price cap from next month.

Speaking outside 10 Downing Street, Truss said she would “take action this week” on soaring energy costs, with speculation that a typical household bill will be capped at £2,500 via government subsidies, while businesses would also receive some form of relief on their costs.

“I will deal hands on with the energy crisis caused by Putin’s war,” Truss said. “I will take action this week to deal with energy bills and to secure our future energy supply.

“I am confident that together we can ride out the storm, rebuild our economy and we can become the modern, brilliant Britain I know we can be . . . I am determined to deliver.”

Truss began naming her cabinet on Tuesday night with, as expected, Kwasi Kwarteng being named chancellor, Suella Braverman as home secretary and Therese Coffey as health secretary and deputy PM. Of most interest to the racing and betting industries was the arrival of Michelle Donelan as the new culture secretary following the resignation of Nadine Dorries on Tuesday morning.

There had been speculation Dorries would continue in the role under Truss but she opted to leave the cabinet, with reports suggesting she will be offered a peerage in the resignation honours list of former prime minister Boris Johnson.

There was no mention of the gambling review in her resignation letter to Johnson, in which she said she had been "humbled" to have been asked to stay on in the role by Truss.

She added: "However, after much reflection, I am writing to you to resign as secretary of state for digital, culture, media and sport at the point at which your successor is appointed."

Dorries was said to be a supporter of tough reforms of gambling regulation following the long-delayed review, which was launched by the government in December 2020.

Her departure could cause further delays to the publication of the white paper, which had been expected to appear as long ago as the end of last year with measures including controversial affordability checks for punters. Donelan, the shortest serving cabinet minister in British history when briefly education secretary under Johnson, was announced as Dorries' replacement late on Tuesday night.

Donelan has spoken in favour of gambling reform. In 2018 she welcomed government action against Fobts and claimed a “dramatic” increase in gambling advertising was “preying on the vulnerable”.

The leading campaigner for gambling reform Iain Duncan Smith will not be joining the cabinet. The former Conservative leader told BBC Radio 4's World at One programme that Truss had offered him a place in the cabinet but he had turned down the opportunity.

"It's all about what I can do and I think I am very happy to be on the backbenches for the moment," he added.

Prominent ministers under Johnson who announced they will not figure in Truss's cabinet include Dominic Raab, Grant Shapps and Steve Barclay.

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