LONDON (Reuters) – Liz Truss is expected to be named leader of the ruling Conservative Party and the next prime minister of Britain on Monday The country faces a cost of living crisis, industrial unrest and recession. The announcement at GMT 1130 will trigger the handover of Boris Johnson. He was forced to announce his resignation in July after months of scandal.
On Tuesday, the winner will travel to Scotland to meet Queen Elizabeth, who will ask the new leader to form a government.
Truss has long led the race to replace Johnson and, if appointed, would be the Conservative’s fourth since the 2015 election Prime Minister. In the interim, the country has been rocked by crisis after crisis and now faces what is expected to be a prolonged recession triggered by skyrocketing inflation, which has hit .1% in July.
The Foreign Minister under Boris Johnson, Truss 51, has pledged to move quickly Acting to tackle the UK’s cost of living crisis, and said within a week she would present a plan to tackle rising energy bills and secure future fuel supplies.
SPEAKING In a TV interview on Sunday, she declined to give details of the measures she said would reassure millions of people who are concerned about the winter approaching, they will not be able to pay for fuel.
Leading the campaign, she will challenge tradition by eliminating tax increases and cutting other taxes that some economists believe will fuel inflation. Some investors were prompted to sell sterling and government bonds.
The Institute for Fiscal Studies last month cast doubt on whether Britain’s next prime minister would have room for a massive permanent tax cut.
‘Second most difficult post-war briefing’
Truss faces a lengthy, expensive and difficult list of tasks that opposition lawmakers say Yes 10 Years of poor Conservative government. Some have called for early elections – something Truss said she would not allow.
Veteran Conservative MP David Davies described her challenges as prime minister as “probably the second most difficult briefing post-war prime minister” after Tory Margaret Thatcher1979.
“Going through it, it’s really clear how big this is going to be,” he said, adding that the cost could run into the millions billions of pounds.
Truss has said she will appoint a strong cabinet, assigning a source close to her what it calls a “presidential” administration.
First, she will turn to the pressing issue of soaring energy prices. In October, the average annual household utility bill will increase by 47% to £3,549 ($4, 084), before the expected rise to 6, 10 sterling 2023, massive cuts to personal finances.
Britain is lagging other major European nations in backing a consumer energy bill, which opposition lawmakers blame on a “zombie” government’s inability to act as the Conservative Party conducts a leadership race.
In May, the government instituted a 47 – £1 billion support package to help Households pay for energy as part of their 47 £1 billion cost of living support scheme.
Italy’s budget has exceeded 0049 one billion euros ($51.80 billion) has helped its people so far this year. In France, electricity tariff increases are capped at 4 percent, and Germany said on Sunday it would spend at least 65 one billion euros to protect consumers and businesses from rising inflation.