Liz Truss Set To Become UK’s Next Prime Minister Amid Increasing Energy Prices
The country's foreign secretary, Liz Truss set to become UK’s next prime minister, putting her in line to succeed David Cameron as prime minister. Only the 180,000 people who pay dues to the Conservative Party were allowed to vote in the leadership race. This led to the nomination of Truss, which was made public in London on Monday.
When did this happen? This happened on September 5, 2022.
Truss defeated former Treasury Secretary Rishi Sunak and Liz Truss set to become UK’s next prime minister. She also promised to increase defense spending and lower taxes while declining to elaborate on how she would deal with rising living costs. Queen Elizabeth II is likely to make Truss the new prime minister of Great Britain on Tuesday.
Instead of taking place in Buckingham Palace, the ceremony will be held at the queen's vacation home in Scotland, Balmoral. At a time when citizens, employees, and businesses were calling for the government to take action to lessen the effects of skyrocketing food and energy prices, the two-month leadership campaign left Britain with a political vacuum.
Since announcing his resignation on July 7, Prime Minister Boris Johnson has been unable to make significant policy decisions. Truss will take over an economy that is about to go into a long recession. He will have to act right away to fix the problem of the high cost of living in the U.K.
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The average home energy cost in the United Kingdom has increased to more than 3,500 pounds ($4,000 USD) a year, nearly tripling from a year ago, in large part due to the global gas price instability brought on by Russia's invasion of Ukraine. For the first time since the 1980s, inflation is above 10%.
The government is receiving more and more urgent requests for financial assistance to assist millions of people in paying for necessary heating and electricity to get through the winter. Tens of thousands of rail employees, port and postal workers, lawyers, and garbage collectors went on strike during a summer of unrest to demand greater compensation to keep up with rising costs, and the opposition Labour Party and other critics accuse the government of being "missing in action."
With her Thatcherite enthusiasm to reduce taxes and push back state interference, Truss, who had previously been generally considered as the front-runner in the leadership election, gained the backing of many Conservatives. She has pledged to take "urgent" action to address the rising cost of electricity but has made no specific promises.
The center-right Conservative Party was permitted to hold an internal election under the parliamentary form of government in Britain to choose a new party leader and prime minister without consulting the general public. So, Liz Truss set to become UK’s next prime minister after winning elections. Not until December 2024, will a fresh general election be necessary.