If Liz Truss, the British foreign minister, is elected prime minister as predicted, she indicated on Sunday that she would outline immediate steps in her first week in office to address rising energy prices and expand energy supply.
At a time when the nation faces what is anticipated to be a protracted recession, double-digit inflation, and industrial unrest, the ruling Conservative Party is set to choose Truss as its new leader and Britain’s new prime minister on Monday.
The new leader who will take over for Prime Minister Boris Johnson has a big and expensive list of tasks to complete. Truss vowed to take on the economy’s problems head-on and reiterated her commitment to boosting growth.
She acknowledged in a piece for the Sunday Telegraph that the cost of living situation was difficult for Britons and promised to take ‘decisive action to ensure families and businesses can survive this winter and the next.’
If elected, she stated, ‘I intend to lay out our urgent action on energy costs and supply during the first week of my new administration.’
‘My Chancellor would follow up with a fiscal event later this month, along with a larger package of economic measures,’
The cost of Truss’s plan would easily exceed 100 billion pounds ($115 billion), according to insiders at the finance ministry, according to the Sunday Times newspaper. The majority of this cost would be added to government borrowing.
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