The Financial Express

Liz Truss meets Queen Elizabeth as part of formal process to become British PM

| Updated: September 07, 2022 15:41:50

Liz Truss speaking after being announced as Britain's next Prime Minister at The Queen Elizabeth II Centre in London on Monday –Reuters photo Liz Truss speaking after being announced as Britain's next Prime Minister at The Queen Elizabeth II Centre in London on Monday –Reuters photo

Queen Elizabeth appointed Liz Truss as British prime minister on Tuesday, tasked with steering the country through a looming recession and energy crisis that threatens the futures of millions of households and businesses.

Truss, the fourth Conservative prime minister in six years, flew to the royal familiy's Scottish home to be asked by the 96-year-old monarch to form a government. She replaces Boris Johnson, who was forced to quit after three tumultuous years in power, reports Reuters.

"The Queen received in Audience The Right Honourable Elizabeth Truss MP today and requested her to form a new Administration," Buckingham Palace said in a statement.

"Ms Truss accepted Her Majesty's offer and kissed hands upon her appointment as Prime Minister and First Lord of the Treasury."

Truss will confront one of the most daunting lists of problems of any post-war leader in Britain as inflation hits double digits, the cost of energy soars and the Bank of England warns of a lengthy recession by the end of this year.

Her plan to boost the economy through tax cuts while also potentially providing around 100 billion pounds ($116 billion) to cap energy costs has already rattled financial markets, prompting investors to dump the pound and government bonds in recent weeks.

She also enters the latest crisis to buffet Britain with a weaker political hand than many of her predecessors after she defeated rival Rishi Sunak in a vote of Conservative Party members by a tighter margin than expected, and with more of the party's lawmakers initially backing her rival.

Johnson, who tried to cling on to power in July despite ministers resigning en masse over a series of scandals, told reporters and politicians gathered in Downing Street early on Tuesday that the time had come for the country to unite.

"This is it folks," Johnson said in his farewell speech. "What I say to my fellow Conservatives, it's time for politics to be over, folks. It's time for us all to get behind Liz Truss and her team and her programme."

After speaking outside the famous black door, he left London to travel to northeast Scotland and tender his resignation to the queen before Truss followed him into Balmoral Castle to be asked to replace him.

Johnson used his departure speech to boast of his successes, including an early vaccine programme during the coronavirus pandemic and his early support for Ukraine in its battle against Russia.

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