Liz Truss will be the new British Prime Minister. After a grueling race for Conservative leadership, the country’s ruling party, the Tories, now has a new leader.
Liz Truss, current UK foreign minister, has beat the rival Rishi Sunakthe country’s former finance minister, winning the leadership race.
In recent weeks, Conservative Party members have been invited to vote for their favorite candidate: 81,326 members voted for Truss, while 60,399 members voted for Sunak. The turnout was 82.6% and, roughly speaking, Truss got about 57% of the votes, while Sunak got 42% of the votes.
Truss took the stage to thank her supporters and mentioned Boris Johnson, calling him his “friend”. Truss will not automatically become prime minister today as the ritual stipulates that the outgoing prime minister must first submit his resignation to Queen Elizabeth II. Truss said he intends to keep “what we promised voters in 2019” and said he will push a “bold plan to cut taxes” and grow the British economy. The outgoing foreign minister in an interview with the BBC said that it is “absolutely right to cut taxes on the rich.”
In addition, the 47-year-old said she will also address long-term issues regarding the country’s energy supply. Truss is opposed to taxes on oil and gas giants holding attempts to redistribute wealth responsible for the UK’s feeble growth.
The first move of the Truss should be a £ 30 billion package with tax cuts and VAT. According to economists, the package of measures that the British premier will have to present will have to be big, very big, to get the United Kingdom through a winter of crisis. “Once in power, Liz Truss will likely be forced to take more drastic steps to avoid shortages of winter supplies,” said Eurasia Group’s Mujtaba Rahman and Henning Gloystein in a research note last week, CNBC reported.