Truss, Tory candidate, pledges swift action on cost of living
Liz Truss, who is widely expected to become Britain’s new prime minister this week, has pledged to work within a week to tackle a cost-of-living crisis fueled by soaring energy bills linked to the war in Ukraine.
But Truss, speaking to the BBC on Sunday, refused to provide any details of the measures she would take, stating that it would be a mistake to discuss specific policies until she takes the top job. But she stressed that she understands the extent of the problems facing Britain.
The government has been unable to tackle soaring inflation, labor conflict and pressure on the country’s faltering healthcare system since early July, when Johnson announced his intention to resign and sparked a competition to choose his successor. The ruling Conservative Party will announce the winner on Monday.
“I want to reassure people that I am absolutely determined to solve this problem and also, within a month, present a complete plan for how we will cut taxes, how we will take off the British economy,” said Truss, who served as foreign secretary last year. These are tough times.”
Truss Rishi Sunak, the former government treasury chief, faces off in the competition for the Conservative Party leadership and prime minister. Only paying party members were allowed to vote in the election, putting the choice of Britain’s next leader in the hands of some 180,000 party activists.
During the campaign, Truss promised to increase defense spending, cut taxes, and increase energy supplies, but declined to provide details on how it would respond to the cost-of-living crisis.
With household energy bills increasing by 80% next month, charities are warning that as many as one in three households will face fuel shortages this winter, leaving millions fearful of how they will pay to heat their homes.
The Bank of England forecast inflation would reach a 42-year high of 13.3% in October, threatening to push Britain into a prolonged recession. Goldman Sachs has estimated that inflation could rise to 22% by next year unless something is done to mitigate rising energy prices.