Boris Johnson to formally step down on Tuesday as Liz Truss wins vote to be next British PM
Liz Truss will be the next Prime Minister of the United Kingdom after winning a leadership election. In a vote by Conservative Party members, she beat former finance minister Rishi Sunak. Truss assumes the presidency as the country suffers a cost-of-living problem, industrial unrest, a recession, and war in Europe.
Kwasi Kwarteng, generally expected to be Truss’ finance minister, believes “some fiscal relaxation” is required, but only in a financially sensible manner. Truss faces “perhaps the second most challenging brief of post-war prime ministers” behind Margaret Thatcher, according to David Davis.
Truss faces a big, expensive, and tough to-do list, which opposition politicians blame on 12 years of bad administration. The average annual family power bill is predicted to soar by 80% in October to 3,549 pounds, before rising to 6,000 pounds in 2023. The government announced a 15 billion pound assistance package in May to assist people with their energy expenses. This year, Italy has allocated more than 52 billion euros ($51.75 billion) to assist its citizens in dealing with rising energy bills.
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