London: Queen Elizabeth appoints Lizzu truss As British prime minister on Tuesday, he was tasked with steering the country through an impending recession and energy crisis that threatens the future of millions of homes and businesses.
Truss, the fourth Conservative prime minister in six years, flew to the royal family’s Scottish home, asking the 96-year-old monarch to form a government. She replaces Boris Johnson, who was forced to step down after three turbulent years in power.
“The Queen welcomed The Right Honorable Elizabeth Truss MP into the audience today and requested her to form a new administration,” Buckingham Palace said in a statement.
“Ms Truss accepted Her Majesty’s offer and kissed her appointment as Prime Minister and First Lord of the Treasury.”
The truce will face one of the toughest list of problems any post-war leader in Britain will face as inflation reaches double digits, energy costs rise and the Bank of England faces a protracted recession by the end of this year. gives a warning.
His plan to boost the economy through tax cuts, while potentially providing around £100 billion ($116 billion) to cap energy costs, has already rocked financial markets, prompting investors to The pound and government bonds have been prompted to dump in recent weeks.
She also enters the latest crisis to undermine Britain after defeating a rival with a weaker political arm than many of her predecessors. Rishi Sunki Members of the Conservative Party voted by a smaller than expected margin, and more party MPs initially supported their opponent.
Johnson, who tried to stay in power in July despite ministers resigning over a series of scandals, told reporters and politicians gathered in Downing Street on Tuesday morning that the time had come for the country to unite.
“It’s the people,” Johnson said in his farewell speech. “What I say to my fellow conservatives, it is time for politics to end, friends. It is time for all of us to step back. liz truss And his team and his program.”
After speaking outside the famous Black Door, he left London to travel to north-east Scotland and submit his resignation to the Queen, before the Truss asked him to replace him at Balmoral Castle.
Johnson used his departure speech to boast of his successes, including an early vaccine program during the coronavirus pandemic and his early support for Ukraine in its fight against Russia.
He also listed “delivering Brexit” as one of his main achievements, although polls now show that most people think leaving the EU was a mistake.
change rules
Johnson’s speech was bombastic and full of jokes, characterizing a man once loved by the British public but also hated by many. He refused to show any remorse over the scandals that brought him down, including “Partygate”, a series of boozy gatherings in Downing Street while the country was under a COVID-19 lockdown, for which he was fined by police went.
Britain, under Conservative rule since 2010, has been mired in crisis in recent years and now faces the prospect of a protracted energy emergency that could wipe out the savings of households and jeopardize the future of small businesses. Still weighed down by covid- era loans.
Household energy bills are due to jump 80% in October, but a source familiar with the situation has told Reuters the truce could freeze bills in a plan that would cost £100 billion, surpassing the Covid-19 furlough plan. Might be possible.
It is unclear how the UK will pay for the support. Government-backed loans to energy suppliers, repaid on future bills or through general taxation, are being considered, according to the source.
But the scale of the package, as well as the fact that the energy crisis could last a few years, has stunned investors.
The pound has underperformed against the US dollar in recent times compared to most other major currencies.
Sterling declined 4% against the greenback in August alone, according to records from Refinitiv and the Bank of England, marking the worst month for 20-year British government bonds since 1978.
Britain’s public finances are also weighed down by the government’s huge coronavirus spending spree. Public debt as a share of economic output is far from over 100%, up from around 80% before the pandemic.
Truss, the fourth Conservative prime minister in six years, flew to the royal family’s Scottish home, asking the 96-year-old monarch to form a government. She replaces Boris Johnson, who was forced to step down after three turbulent years in power.
“The Queen welcomed The Right Honorable Elizabeth Truss MP into the audience today and requested her to form a new administration,” Buckingham Palace said in a statement.
“Ms Truss accepted Her Majesty’s offer and kissed her appointment as Prime Minister and First Lord of the Treasury.”
The truce will face one of the toughest list of problems any post-war leader in Britain will face as inflation reaches double digits, energy costs rise and the Bank of England faces a protracted recession by the end of this year. gives a warning.
His plan to boost the economy through tax cuts, while potentially providing around £100 billion ($116 billion) to cap energy costs, has already rocked financial markets, prompting investors to The pound and government bonds have been prompted to dump in recent weeks.
She also enters the latest crisis to undermine Britain after defeating a rival with a weaker political arm than many of her predecessors. Rishi Sunki Members of the Conservative Party voted by a smaller than expected margin, and more party MPs initially supported their opponent.
Johnson, who tried to stay in power in July despite ministers resigning over a series of scandals, told reporters and politicians gathered in Downing Street on Tuesday morning that the time had come for the country to unite.
“It’s the people,” Johnson said in his farewell speech. “What I say to my fellow conservatives, it is time for politics to end, friends. It is time for all of us to step back. liz truss And his team and his program.”
After speaking outside the famous Black Door, he left London to travel to north-east Scotland and submit his resignation to the Queen, before the Truss asked him to replace him at Balmoral Castle.
Johnson used his departure speech to boast of his successes, including an early vaccine program during the coronavirus pandemic and his early support for Ukraine in its fight against Russia.
He also listed “delivering Brexit” as one of his main achievements, although polls now show that most people think leaving the EU was a mistake.
change rules
Johnson’s speech was bombastic and full of jokes, characterizing a man once loved by the British public but also hated by many. He refused to show any remorse over the scandals that brought him down, including “Partygate”, a series of boozy gatherings in Downing Street while the country was under a COVID-19 lockdown, for which he was fined by police went.
Britain, under Conservative rule since 2010, has been mired in crisis in recent years and now faces the prospect of a protracted energy emergency that could wipe out the savings of households and jeopardize the future of small businesses. Still weighed down by covid- era loans.
Household energy bills are due to jump 80% in October, but a source familiar with the situation has told Reuters the truce could freeze bills in a plan that would cost £100 billion, surpassing the Covid-19 furlough plan. Might be possible.
It is unclear how the UK will pay for the support. Government-backed loans to energy suppliers, repaid on future bills or through general taxation, are being considered, according to the source.
But the scale of the package, as well as the fact that the energy crisis could last a few years, has stunned investors.
The pound has underperformed against the US dollar in recent times compared to most other major currencies.
Sterling declined 4% against the greenback in August alone, according to records from Refinitiv and the Bank of England, marking the worst month for 20-year British government bonds since 1978.
Britain’s public finances are also weighed down by the government’s huge coronavirus spending spree. Public debt as a share of economic output is far from over 100%, up from around 80% before the pandemic.