New British PM Liz Truss assures to ride out economic storm

Liz Truss has promised to “ride out the storm” of the economic crisis in her first address since taking over as British prime minister, pledging immediate action to tackle a set of challenges led by soaring energy bills, looming recession and industrial strife.

“I am confident that together we can ride out the storm. We can rebuild our economy, and we can become the modern brilliant Britain that I know we can be,” the 47-year-old former foreign secretary said outside her new Downing Street home and office in London on Tuesday.

Liz Truss became the third female prime minister in British history on Tuesday.

Truss, who served as foreign minister in the previous government, enters office after winning the most votes in the Conservative Party leadership contest to replace Johnson, who announced his resignation in July in the wake of a series of scandals. Her appointment fills a monthslong leadership void that the UK has endured as its worst economic crisis in decades has worsened.

Truss’s to-do list is long, with the country facing a deepening cost-of-living crisis, a crumbling healthcare service, and a seemingly endless wave of labor strikes.

However, she has inherited an economy in crisis, with inflation at double digits and the Bank of England warning of a lengthy recession by the end of this year. Commenting on the challenges ahead, Truss referenced the aftermath of the coronavirus pandemic, as well as the continuing war in Ukraine.

She also said she would defend freedom and democracy in the face of Russia’s war in Ukraine.

“I will deal hands-on with the energy crisis forged by Putin’s war. I will take action this week to deal with energy bills and to secure our future energy supply,” Truss said. “By delivering on the economy, on energy and on the NHS, we will put our nation on the path to long-term success.”

She ended on an optimistic note, acknowledging the many difficulties the UK faced at the moment.

“We should not be daunted by the challenges we face. As strong as the storm may be, I know that the British people are stronger,” Truss said. “Our country was built by people who get things done. We have huge reserves of talent, of energy and determination and I am confident that together we can ride out the storm.”

The most urgent problem Truss must address is the skyrocketing cost of energy, which could unleash a wave of business closures and force millions of Britons to choose between putting food on the table and heating their homes this winter.

 Experts have warned that people will become destitute and cold-weather deaths will rise unless something is done fast.