The United Kingdom Foreign Secretary Liz Truss has been selected as the leader of the governing Conservative Party, taking power as the country’s next prime minister when nationals face a cost-of-living crisis, industrial collapse, and financial crisis unrest. Moreover, she vowed to deal with soaring energy prices and decrease taxes. Liz will likely announce her plan on Thursday and potentially include a freeze on energy bills.
After winning the Tory leadership contest, Liz Truss promised to cut taxes & deal with surging energy costs. She is expected to announce a plan that would freeze energy bills, though exactly how it would work is not sure. The Queen will officially appoint Truss at Balmoral Castle pic.twitter.com/AOU1hZ2pcW
— Live News Now (@LiveNewsNow6) September 6, 2022
Later on, the Queen at Balmoral Castle will officially appoint Truss after a final speech by Prime Minister Boris Johnson. The United Kingdom’s 3rd woman prime minister will then appoint her cabinet. During her victory, the 47-year-old leader vowed a program of tax cuts at the national level to support the slumping economy and prevent the country from tipping into collapse.
Pressing Decision for Truss
On Tuesday, Truss will take power, bringing Johnson’s chaotic tenure to an end less than three years after the booming election victory of the Conservatives in 2019. Furthermore, the most crucial decision for Truss as a prime minister will be how best to protect businesses and households from the rising global energy prices. At London’s Queen Elizabeth II conference center, Truss addressed the party activists on Monday and said she would deliver on the energy crisis by enhancing and developing the country’s energy sources and dealing with domestic and business bills.
It is confirmed that energy companies would be able to get rid of government-backed loans in her likely plans, which they would utilize to lower or freeze consumer’s bills. However, the loans would be repaid from bills over the next ten to twenty years. Scottish Power has projected that freezing bills for two years could cost approximately £100 billion. Similarly, small business is likely to get some energy bill relief, though the details are missing in the announcement on Thursday.
Liz Truss defeated rival Rishi Sunak with fifty-seven votes, a tighter win than anticipated. Those expected to join her top squad include ex-leadership rival Suella Braverman as home secretary, James Cleverly as foreign secretary, and Kwasi Kwarteng as chancellor. On the other hand, Culture Secretary Nadine Dorries and Home Secretary Priti Patel announced to resign as senior ministers once Truss holds the prime minister’s seat.
Boris Johnson Congratulated Truss
In congratulating Truss, Johnson said she had the right plan to “unite our party.” However, Johnson survived a no-confidence vote in June despite a significant insurgency against his leadership. During her victory speech, Truss praised Johnson’s work for the country, adding he would be admired from Kyiv to Carlisle. She said that you, Boris, helped Brexit get done, crushed Corbyn, made sure the vaccine was rolled out to combat Coronavirus and stood up for Russia. Outgoing and incoming prime ministers will hand over power at Balmoral Castle in Scotland, instead of Buckingham Palace, as tradition dictates.
Truss on the Big Issues
Since the Queen suffers from mobility issues, this change is believed to minimize the chance of last-minute rearranging. Earlier this month, Truss, blaming the UK’s slow economic growth on the tax burden, promised £30 billion in tax cuts. Among her proposals are:
- The reversal of the National Insurance increases under Johnson’s tenure.
- The provisional scrapping of green levies on energy bills.
- A budget will be proposed to fund public services and the NHS by putting forward measures to spur economic growth
- The cancellation of a planned increase in corporation tax.
- The Conservative Party leader Liz Truss talked about several significant country issues.
- Energy rationing this winter is ruled out, as she promises not to revisit windfall taxes on energy companies
- Within a week of becoming prime minister, she pledges to announce an energy cost reduction plan
- Making it easier for the Britain nationals to stay at home to care for children or aging relatives by modifying taxes
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