The newly throned British Prime Minister, Liz Truss unveiled her governance strategy before UK’s Parliament on Wednesday and said that she would tackle Britain’s severe energy crisis, will slash taxes, and ruled out imposing a windfall levy on oil companies to pay for her plans to offset the soaring cost of heating and electricity. According to the details, the British Premier rebuffed opposition calls for a new windfall tax and vowed to fund a plan meant to help the public pay skyrocketing energy bills which have become unbearable due to multiple factors including Brexit, COVID-19 aftershocks, and Russia’s invasion of Ukraine.
The UK’s new Prime Minister Liz Truss has assumed her office and unveiled her strategy during her first address to the parliament after getting a recognition stamp from Queen Elizabeth II. The top office had always been profitable for the British Tories, however, the multitude of issues, prickles, and sensitives attached to the high post had always been a great challenge for the past rulers. Currently, Great Britain is facing numerous challenges including the high cost of living, and soaring energy bills, while inflation touches a 40-year high and needs pivotal reforms in the energy sector to provide immediate relief to the most disadvantaged segments of the British society ahead of a freezing winter.
Liz Truss, 47, a seasoned politician and former Foreign Secretary of the UK grappled with multiple challenges however the most severe problems are the energy crisis and rising inflation which affected every citizen, business, and household, along with all walks of life. The current global politics and UK’s foreign and domestic policies had further aggravated the problems whereas insufficient resources and delayed policies further added to the woes of the Britons.
Interestingly, like other politicians around the globe, Liz Truss in her first go completely removed all Conservatives from her cabinet who backed her rival Rushi Sunik during the contest for the Premiership and selected a fresh cabinet of her choice before formally starting her new job. During her address to the nation, Truss informed the Britons that she has been inherited a fragile economy with multiple snags including a double-digit inflation, energy issues, and stalled industry while the Bank of England had already warned about a looming recession by the end of 2022, which could last for months. On other hand, a poorly resourced state-owned National Health Service (NHS) is struggling to tackle the intensifying threat of Monkeypox along with a moderate presence of COVID-19 infections and badly needs massive government funding to run its operations effectively. Besides, such a gloomy picture at home, Truss has an ambitious foreign agenda which includes preaching democracy and human rights abroad, Supporting the US and the EU’s economic and military efforts against Russia in connection with the war in Ukraine, and Containing Chinese influence through economic and trade measures along with readjustment of trade, economic and defense relations with the European Community in post Brexit era.
The new British Premier vowed to sail through the storm with courage and tact. She is preparing to announce subsidies to support the masses to compete against soaring energy prices ahead of the frightening winter and motivated her countrymen to be strong enough to face difficult contours in the time. In fact, the western economic system and market economy have increased poverty, widened the gap, and promoted inequality in societies while the governments across the globe became helpless in front of international business cartels, financial lenders, and capitalists who steer the global economy from behind the scene. Although British Conservative is hopeful of her success however the time would decide the worth of her wit and tact.
