UK: Liz Truss is the 56th Prime Minister of the UK and the third female Prime Minister to lead the country. Former female Prime Ministers Margaret Thatcher and Theresa May were from the Conservative Party.
Liz Truss will defeat Rishi Sunak in the Tory leadership race to become the UK's new Prime Minister. It was a closer-than-expected result, with Truss winning 57% of valid votes polled. Speaking at a conference center in Westminster, he thanked Sunak for "fighting hard" and pledged to deliver a "bold plan".
Boris Johnson will hand in his resignation at Queen Elizabeth's Scottish retreat. Liz Truss will also travel to Balmoral for her first meeting with the Queen as Prime Minister. She will address UK citizens on Tuesday and take up her new role after being sworn in on Wednesday. The rest of the day will unfold as they plan who will get the cabinet posts.
The Truss is now tasked with rebuilding the economy, curbing soaring inflation and tackling the energy crisis affecting the continent as a whole. The Trust will be tasked with reversing the rise in National Insurance, avoiding EU rules by 2023 and helping first-time home buyers. "I want to reassure people that I will take action within a week if elected as prime minister," Truss said a day before being elected prime minister.
The issue of the energy crisis the UK may face will vex the Prime Minister but the Truss is set to introduce a measure considering freezing energy bills for millions of people in the UK. They also plan to introduce new income tax relief to help families cope with the cost of living crisis.
It is unclear how the UK government would fund the energy bill freeze if such a plan were to pass. The British prime minister also faces another difficult task of uniting the Tories ahead of another general election.
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