UNITED KINGDOM: Following the downgrading situation of the UK economy, there are various questions about its revival. If Liz Truss wins the election on Tuesday, she has promised to take “rapid action” on bills.
Following Boris Johnson’s resignation speech in July, the race for the keys to 10 Downing Street lasted eight weeks. Voting is now complete, and the results will be announced on Monday.
Tuesday at Balmoral, Johnson will formally submit his resignation to the Queen. They will then be allowed to form a government during a meeting with the incoming Tory leader.
Truss, who is widely regarded as the front-runner to follow Johnson as prime minister, has not yet specified in detail how she would assist individuals in making ends meet.
However, the foreign secretary vowed “urgent action” in a letter to the Sunday Telegraph over energy costs and supply.
Truss stated that she will handle the crisis in a “two-fold” manner, providing households and companies with urgent financial assistance while also working to find solutions to the issues that the effects of Covid and the war in Ukraine have brought to light.
One of the main points of contention during the leadership race has been the cost of living crisis and what should be done to address it.
The foreign secretary has stated that she will address the situation by returning money to people’s pockets, such as by immediately rolling back the National Insurance increase and halting the green energy fee.
Meanwhile, Sunak announced a plan to raise an additional £5 billion to aid the poorest households while also promising to reduce the VAT on energy bills, a plan that would cost £5 billion.
The subject was the main focus of the campaign, which saw Liz Truss and Rishi Sunak criticise each other’s economic strategies and governmental performance.
Boris Johnson, the departing prime minister, asserts that it is time for the Tories to come together.
In either case, by Tuesday, we will have a new Prime Minister who will be up against significant obstacles. Their answer to the situation with energy costs could determine how long they remain in office.
Sir Keir Starmer, the leader of Labour, said that a new Tory leader would not usher in a “new dawn” since neither Sunak nor Truss had an understanding of the scope of the issues facing the nation.
Starmer emphasised his pragmatism and desire for progress on energy prices, the NHS, and crime, warning that the “middle is not holding” and that things are “coming apart.”
He stated, “I came to politics after a long career” in the Sunday Telegraph. I find that to be impatient.
It also implies that I value pragmatic, common sense solutions over ideological rigidity. Everyone would not pay a penny more for their energy bill this winter if I were to enter Downing Street this week.